Will DOGE Price Survive Market Pullback for a 2x Breakout Run?

After the early July rally, the correction is seen as a temporary setback to regain bullish momentum. However, as highly volatile assets, meme coins face significant selling pressure during market downturns. In the last 24 hours, leading meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), Pepe Coin (PEPE), and BONK experienced a 5-6% price drop.

DOGE 價格能否挺過市場回檔並實現兩倍突破？然而，作為高度波動的資產，迷因幣在市場低迷期間面臨巨大的拋售壓力。在過去 24 小時內，狗狗幣 (DOGE)、柴犬 (SHIB)、佩佩幣 (PEPE) 和 BONK 等領先的 meme 幣價格下跌了 5-6%。

Should investors sell or hold during this pullback?

在這次回檔期間，投資人應該賣出還是持有？

Dogecoin Price Performance

During the July market recovery, DOGE surged from $0.915 support. The recovery pushed the asset up by 57%, reaching the upper boundary of the channel wedge pattern at $0.143.

狗狗幣價格表現在 7 月市場復甦期間，狗狗幣從 0.915 美元的支撐位飆升。復甦推動該資產上漲 57%，達到通道楔形模式的上限 0.143 美元。

Resistance at this level, combined with the broader market sell-off, caused a 13% decline in DOGE, resulting in a current price of $0.124. The market cap of DOGE has also dropped to $18.14 billion.

該水平的阻力，加上大盤拋售，導致 DOGE 下跌 13%，目前價格為 0.124 美元。 DOGE的市值也跌至181.4億美元。

The falling wedge pattern typically leads to a downtrend before a potential breakout. The recent reversal from the upper boundary suggests a continued correction, giving sellers the upper hand.

下降楔形形態通常會在潛在突破之前導致下降趨勢。最近從上限的反轉表明持續修正，使賣家佔上風。

Technical Indicators:

技術指標：

• MACD: The MACD (blue) and signal (orange) lines are nearing a bearish crossover, indicating weakening bullish momentum.
• EMA: The DOGE price dip below the 200-day EMA highlights bearish sentiment.

Will DOGE Price Breakout Run Exceed $0.25?

Sustained selling within the wedge pattern could push DOGE down by over 20%, retesting the $0.1 support level.

MACD：MACD（藍色）和訊號（橘色）線接近看跌交叉，顯示看漲勢頭減弱。內，DOGE 可能會下跌20% 以上，重新測試0.1 美元的支撐位。

However, the falling wedge pattern often indicates the nearing end of a downtrend. If the broader market remains bullish, DOGE buyers may rally at $0.1 and aim to break through the upper boundary.

然而，下降楔形形態通常表示下降趨勢即將結束。如果大盤依然看漲，DOGE 買家可能會反彈至 0.1 美元，並試圖突破上限。

A breakout from the wedge pattern would signal an early trend reversal and target a peak of $0.228.

突破楔形形態將預示著早期趨勢反轉，目標是 0.228 美元的峰值。