Dogecoin started losing value as soon as it fell outside its ascending parallel channel. At the moment, Dogecoin is trading laterally. Over the last 24 hours, DOGE went up by 0.3%, which confirms that the coin was stuck in a consolidated price region.
Last week, Dogecoin brought in close to 4% gains. The technical outlook for the Dogecoin price depicted that bearish momentum had set in. Demand and accumulation for the meme-coin depreciated when it started to trade sideways.
The meme coin noted a price pullback after it breached the $0.88 resistance level. Over the last few days, Dogecoin has witnessed a substantial influx of buyers; however, selling pressure has amplified at press time.
Overall, the meme coin has a bullish structure as it has