Dogecoin, the largest memecoin by market cap, has dropped below a short-term uptrend line, potentially signaling the end of its five-month rally. Prices have also fallen below a key retracement level, indicating that the current trend may be over. Technical indicators such as the MACD histogram and simple moving averages suggest a bearish bias. Support levels are identified at 26 cents and 23.4 cents. To invalidate the bearish outlook, Dogecoin would need to recover to the uptrend line from December lows.



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