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Unlike Bitcoin (BTC) and Ethereum (ETH), which have extended the correction phase, Dogcoin (DOGE) is pushing its price rebound to a higher level. So, what is the next step for the largest meme coin? This is a DOGE price analysis

Although the broader cryptocurrency market shows signs of recovery in 2023, many meme coins seem relatively calm, with Doggy coins declining in market value rankings. However, dog coins are currently approaching a critical point, which is the top of the descending triangular pattern

Despite the continuous growth of trading volume, Dogcoin still faces strong pressureAccording to multiple positive on chain indicators showcased today, Dogcoin is no longer the favorite of whales in the market. According to IntoTheBlock (ITB) data, the huge trading volume of Dogcoin over the past week is expected to be slightly over $1 billion, with a slight decrease of 1% within the aforementioned time frame

At the beginning of this week, Bitcoin experienced stable performance over the weekend, while Shanzhai Coin continued to bear losses and experienced significant adjustments, indicating a possible bearish trend. This adjustment has affected some popular meme coins, such as dog coins and firewood coins, which have become the biggest losers of the day

Will DOGE fall into another price range after rejecting the resistance level of $0.06 at the latest price?The bullish recovery has been rejected at new resistance levels

A highly regarded cryptocurrency strategist believes that if the top meme dogcoin (DOGE) can break through two resistance levels, it will officially enter the bull market.Analyst Ali Martinez told his 31200 fans on social media platform X that DOGE is trading in a large triangle pattern

Recently, the level of excitement in the encrypted world has been higher than usual, which is not without reason. Huge hedge fund manager Paul Tudor Jones recently called on investors to shift their attention to Bitcoin and gold, rather than traditional stock markets

Dogcoin has always lacked a major catalyst, but the candlestick closing price above $0.0835 may trigger the beginning of a new bullish trend for Dogcoin,DOGE may face the beginning of a new bull market and may reach the highly anticipated $1 level

On Monday, October 9th, the price trend of DOE caused memecoin to fall below the $0.06 mark, flipping it into the resistance zone

The price of dog coins has been declining since July 25th, breaking below the level support level on October 9th, but still maintaining a long-term support level.The daily relative intensity index (RSI) shows a bearish trend

Data shows that since June, the trading volume of Dogcoin has decreased by more than 98%, indicating that investors have lost interest in this meme currency.The 7-day trading volume of Dogcoin has decreased to 37300 transactionsAccording to data from the market intelligence platform IntoTheBlock, activity on the DOGE network has indeed slowed down recently

With the development of the Internet, cryptocurrencies have become increasingly popular, among which Dogcoin is a popular cryptocurrency. Despite some fluctuations in the price of dog coins, their dominant position in the market remains strong