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🚀🐕 **Dogecoin (DOGE) Price Analysis on the Daily Timeframe** 🚀🐕
The cryptocurrency memecoin king Dogecoin (DOGE) finds itself at a crucial juncture, aiming to defend its price in the DOGE/USDT pair above the key region of $0.085. Despite facing ongoing battles with bears, DOGE has managed to trend higher, reaching a peak of $0.15.
In the midst of forming a bullish descending triangle and trading above the supportive 50-day EMA, DOGE/USDT must maintain its position above this region to avoid a potential drop to its range-bound area.
To reclaim bullish momentum, DOGE/USDT needs to breach the 25% Fibonacci (FIB) value and target the 38.2% FIB area. Breaking the $0.1 mark could trigger substantial FOMO, propelling Dogecoin to higher levels.
Current price action for DOGE evokes mixed sentiments among traders and investors as the asset grapples with reclaiming a key area of interest.
Dogecoin's MACD and RSI indicators suggest a subdued price action, with buy volume lacking enthusiasm in recent weeks.
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