Dogecoin has been gaining popularity in this bull market, especially with the support of the U.S. elections and Elon Musk, and it has been soaring all the way to a high of $0.468!
From the four-hour chart, it has attempted to break above the $0.468 position twice on November 23 and December 8, both times facing resistance. This indicates that the major players and institutional funds are showing signs of withdrawal at this level, and retail investors lack the purchasing power, which is why it hasn't been able to break through.
Following last week's three-day decline and yesterday's washout, it has dropped nearly 30% from its peak. Now, we can closely monitor the $0.34 level, which is a strong support. If it holds, it will continue to take off; if it doesn't hold, it may continue to test the lows. The current position is $0.36, and spot trading can be done in batches.