After a clear 50% rally, Dogecoin [Doge] appears to consolidate around the key resistance level of $0.25

As reported by on-chain analytics tools Coinglass and Intotheblock, this continued integration has attracted high attention from traders and investors.

After a significant 50% gain, Dogecoin [doge] appears to have started to solidify at the key resistance levels over the past three days.

According to Intotheblock's report, Dogecoin's large transaction volume is typically associated with whale and institutional activity, up 41.12% in the past 24 hours.

This growing signal of sharp growth indicates an increasing interest and confidence in commemorative coins, suggesting that the upward momentum may continue.

As whales and institutions continue to rise, Dogecoin's daily active addresses also surged by 34.91% during the same period.

Coinglass data shows bullish bets on Dogecoin have increased dramatically.

As of press time, Binance's Dogeusdt length/short ratio is 3, showing strong bullish sentiment. This means that there is only one short position in every three long positions.

In addition, 75.08% of Binance's governor traders hold long positions, while only 24.92% hold short positions.

Despite these bullish on-chain indicators, Doge's price seems to be struggling to gain momentum.

As of press time, Memecoin was trading close to $0.2276, down 8.40% in the past 24 hours.

During the same period, its trading volume fell by 10%, indicating that crypto enthusiasts' participation has declined compared to the previous day.

Dogecoin's price trends and key levels

Expert technical analysis shows that Doge's key resistance level has approached $0.25 in the past three days.

This raises the question - will Memecoin repeat past patterns, or is this just a regular tweak?

The last time Doge reached this level, it faced strong selling pressure, causing a decline.

Will history repeat itself? Or will the Bulls break through the resistance this time?

If Doge continues to consolidate and closes with a daily candlestick chart below $0.22, we can expect to see a downward momentum in the next few days.

But if Doge breaks through resistance and closes with a daily candlestick chart above $0.255, then we can expect an upward rally.

This could push Memecoin to its next resistance level of $0.30, potentially bringing a 20% gain.

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