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As of July 11, 2024, the DOGS/USDT pair initially surged with strong bullish momentum.
However, the bulls couldn't sustain this upward movement, leading to a dramatic price decline.
The DOGS/USDT pair has been trapped in a descending channel, marked by a pattern of lower highs and lower lows.
For nearly two months, the price has been fluctuating within this channel.
On August 8th, DOGS found support near $0.01100 and attempted a rebound, but bulls encountered resistance at the upper boundary of the channel, causing the price to pull back.
According to Coingabbar analysis, If the bulls manage to break out of the channel and close above $0.01500, the price could potentially rise to $0.01800 and even $0.02300.
Conversely, if the bulls fail to break the resistance, bears may drive the price down to the lower end of the channel, potentially leading to a new all-time low.