DOGE first dropped from 0.129 to around 0.121, but quickly rebounded back above 0.125, now fluctuating around 0.129 with a strong short-term performance. Large holders, or whales, have recently been relatively inactive in trading, and the market is in a wait-and-see state, which suggests that the price may be awaiting a new direction.
More importantly, DOGE has broken through the long-term trend line, a situation reminiscent of the upward cycle from 2014 to 2017. At that time, after stabilizing on long-term support, Dogecoin experienced a rapid rise. Lao Tian believes that if DOGE can maintain this trend line, the current breakout may be an early signal of a new bull market, and the price is expected to gradually rise in the future.
