After a prolonged period of sideways movement, Dogecoin (DOGE) has shown signs of life with a recent strong upward move.
Analyst Altcoin Sherpa highlights that DOGE spent around two months in a consolidation phase before the recent rally, sparking speculation on a potential trend reversal.
The key question now is whether Dogecoin can establish a higher low, with a support level suggesting a potential price target around $0.30, but failure could lead to a drop back to $0.15–$0.16.
The upcoming weeks will be critical in determining if the current rally in DOGE will sustain for a broader trend or if it will return to its usual pattern of volatility and decline.