Dogecoin (DOGE) has recently fallen from a high of $0.43998 to $0.34060, a decline of 19.55%, which has sparked discussions in the market about whether its upward momentum is weakening. Despite the price pullback, many investors seem to maintain interest in Dogecoin. However, the recent price drop indicates a certain level of fatigue in Dogecoin's appeal and price momentum.
Nonetheless, Dogecoin's trend remains full of potential, especially concerning the technical indicators related to its popularity. Recently, Dogecoin's price has experienced a short-term rebound, forming a typical bull flag pattern, which usually signifies that the price will break out and rise further. This pattern aligns with the current market trend, suggesting that Dogecoin's price may strengthen again.
Currently, if Dogecoin's price can stabilize above $0.40, it will further confirm the continuation of the upward momentum. From the current price of $0.3691, Dogecoin has rebounded approximately 7.6% from a low of $0.343. This indicates that Dogecoin's popularity remains strong and may potentially trigger a new round of increases in the short term.
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