Dogecoin (DOGE) slows down after a strong surge

The price of Dogecoin (DOGE) is currently slowing down after a period of strong increase, specifically from a peak of $0.44 down to around $0.37, marking a decrease of nearly 5.1% in the past week. This comes in the context of the memecoin having reached its highest level in three years at $0.43 not long ago. This price drop is not surprising, as DOGE is known for its high volatility, and this trend is believed to be a result of reduced attention from external events, such as Donald Trump's victory in the elections, which contributed to significant momentum for DOGE earlier.

Additionally, the BBTrend indicator of DOGE has slightly decreased but remains above a key support level, indicating there is still some bullish momentum. However, the decline in the ADX indicator suggests that the bullish trend is weakening, which could signal a slowdown in momentum. Currently, DOGE's key resistance remains around $0.44, where the coin has struggled to break through. If it cannot maintain its upward momentum, DOGE may return to lower price levels.