The price of Dogecoin (DOGE) has been in a downtrend for over five months, indicating that a breakout may not happen soon. Market indicators show potential overvaluation and resistance at $0.108, with a significant amount of DOGE sold within that range. This creates a supply wall that could hinder upward movement. The rising Network Value to Transactions (NVT) ratio, which compares market cap to transaction volume, suggests that DOGE may be overvalued and could experience a correction. DOGE currently trades around $0.104 and will need strong market support to break out of the downtrend and overcome resistance. The likelihood of consolidation under $0.108 is high, but if market conditions improve and investors hold their positions, DOGE could rally to $0.122.



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