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Dogecoin's triangle pattern has already collapsed. During the market correction phase, DOGE is holding firm at the $0.12 level, trying to create space for a subsequent rebound. Many analysts are not very optimistic; they believe the downtrend is far from over—Wave B still has to continue crashing, and the price could be pushed down to around $0.096.
Looking at the chart, the problems are significant: trading volume is sluggish, buying pressure is clearly weak, and the bulls are unable to control the situation. As long as the price remains below $0.14 to $0.15, the downward trend still exists. It might be best to first go through a sideways consolidation before clarifying the next move.
Of course, there are also optimistic views. If DOGE can stabilize within the demand zone of $0.12 to $0.13, the space for a rebound will open up, and there’s even a chance to surge to $0.18.
The current trading price is $0.122, with a weekly decline of 7.3%. In the short term, it’s likely to be a situation of alternating sideways consolidation and small rebounds, but the overall trend remains bearish.