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.

狗狗币的价格本月出现看涨复苏，使其市值上涨 12.2%，达到 245 亿美元。 DOGE 突破了 0.16 美元的关键心理水平，现在面临着强大的看跌汇合。

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?

日线图描绘了上升楔形形态，其特征是两条汇聚的上升趋势线。这种模式通常与潜在的看跌逆转相关。 Meme 币本月会突破 0.20 美元，还是会屈服于支撑趋势线？

Dogecoin's Wedge Pattern Signals Caution Amid Shifting Market Dynamics

狗狗币的楔形模式在市场动态变化中发出警告信号

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，狗狗币处于上升楔形模式的积极阶段，表现出强劲的势头，挑战 0.173 美元的上方阻力趋势线。尽管指标看涨，但围绕上升楔形形态的整体情绪仍然看跌。盘中交易显示更高的价格拒绝，表明间接供应增加。这与该模式的看跌前景一致，并表明价格可能下跌。

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 的验证作者 Joao Wedson 发现模因币市场动态发生了重大转变。狗狗币的交易量主导地位已骤降至仅 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."

“与市场上领先的 Memecoin 相比，$Doge 正在衰落。其交易量的主导地位仅为 3.15%，而 $Floki 在所有 Memecoin 交易中占主导地位超过 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.

与此同时，Floki 已成为主导力量，占据了所有 memecoin 交易的 40% 以上。这种转变反映了这个动荡的细分市场中投资者偏好的变化。