Dogecoin's price has witnessed a bullish recovery this month, bolstering its market cap by 12.2% to reach $24.5 billion. Surpassing the crucial psychological level of $0.16, DOGE now faces a formidable bearish confluence.

狗狗幣的價格本月出現看漲復甦，使其市值上漲 12.2%，達到 245 億美元。 DOGE 突破了 0.16 美元的關鍵心理水平，現在面臨著強大的看跌匯合。

The daily chart depicts a rising wedge pattern, characterized by two converging ascending trendlines. This pattern is often associated with a potential bearish reversal. Will the meme coin conquer $0.20 this month, or will it succumb to the support trendline?

日線圖描繪了上升楔形形態，其特徵是兩條匯聚的上升趨勢線。這種模式通常與潛在的看跌逆轉有關。 Meme 幣本月會突破 0.20 美元，還是會屈服於支撐趨勢線？

Dogecoin's Wedge Pattern Signals Caution Amid Shifting Market Dynamics

狗狗幣的楔形模式在市場動態變化中發出警訊

Currently, Dogecoin resides in a positive phase within the rising wedge pattern, exhibiting increased momentum that challenges the upper resistance trendline at $0.173. Despite bullish indicators, the overall sentiment surrounding the rising wedge pattern remains bearish. Intraday trading reveals higher price rejection, indicating an increase in overhead supply. This aligns with the pattern's bearish outlook and suggests a possible price decline.

目前，狗狗幣處於上升楔形模式的積極階段，表現出強勁的勢頭，挑戰 0.173 美元的上方阻力趨勢線。儘管指標看漲，但圍繞著上升楔形形態的整體情緒仍然看跌。盤中交易顯示更高的價格拒絕，表明間接供應增加。這與該模式的看跌前景一致，並表明價格可能下跌。

Furthermore, Verified Author on CryptoQuant, Joao Wedson, has identified a significant shift in the memecoin market dynamics. Dogecoin's trade volume dominance has plummeted to a mere 3.15%.

此外，CryptoQuant 的驗證作者 Joao Wedson 發現迷因幣市場動態發生了重大轉變。狗狗幣的交易量主導地位已驟降至僅 3.15%。

"$Doge is fading in comparison to the leading Memecoins in the market. Its dominance in trade volume is only 3.15%, while $Floki dominates with over 40% of all Memecoin trades."

“與市場上領先的 Memecoin 相比，$Doge 正在衰落。其交易量的主導地位僅為 3.15%，而 $Floki 在所有 Memecoin 交易中占主導地位超過 40%。”

Meanwhile, Floki has emerged as a dominant force, capturing over 40% of all memecoin trades. This shift reflects a change in investor preferences within this volatile segment.

與此同時，Floki 已成為主導力量，佔據了所有 memecoin 交易的 40% 以上。這種轉變反映了這個動盪的細分市場中投資者偏好的變化。