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TronWeekly

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Dogecoin Faces Short-Term Dip Risk to $0.20 Amid Bullish $1 Breakout Outlook

  • Dogecoin has experienced a 25% increase in the last two weeks, reaching an all-time high of $0.24, amidst a broader crypto market uptrend.
  • Analysts indicate possible short-term downside risks for Dogecoin, with concerns rising due to weakening market sentiment and potential decline towards $0.20.
  • Historical data shows that spikes in retail futures trading often precede local price tops in Dogecoin, indicating a pattern that could lead to corrections.
  • On a bullish note, Dogecoin has broken out from a falling wedge pattern, suggesting a potential rally towards $1 in the current trading cycle according to crypto analyst Anup Dhungana.

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