Dogecoin's price action over the last 48 hours has been marked by a consolidation below the price level of $0.45. Interestingly, technical analysis shows that this consolidation is part of a bullish pennant that has been forming since early November. In particular, Dogecoin is currently in the flag phase of the bullish pennant formation, which is known as the consolidation phase before the next bullish leg.
According to cryptocurrency analyst KrissPax, this price movement of Dogecoin is creating a 'great springboard for the next big Doge surge.'