Dogecoin is currently testing the bottom boundary of a key price channel and has been historically resistant to further slide when it nears the $0.150 support level. Analysts predict that sustaining above $0.16 could lead to a strong rebound. Despite a 20% drop in a week, Dogecoin whales have accumulated a significant amount of DOGE in the past 72 hours, indicating bullish sentiment ahead of a potential Dogecoin ETF approval. The charts show a bearish sentiment, but the low RSI value suggests the asset may be undervalued and could potentially experience a reversal in the short run. Breaking through the $0.16 hurdle will require significant buying pressure or a change in market sentiment.



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