The price of Dogecoin (DOGE) is currently hovering around the key resistance level at $0.40, which has historically been a turning point for the cryptocurrency. Traders are closely monitoring whether the token will break above this resistance or face a temporary setback. If DOGE breaks above $0.40, it could aim to revisit its 2024 peak at $0.48 and surpass it. However, failure to clear this level may result in a pullback. DOGE's recent price action and the alignment of moving averages support a bullish narrative. On-chain data also indicates growing investor interest and possible accumulation. The Relative Strength Index suggests there is still room for upward movement. If successful, DOGE may rally to reclaim and surpass its 2024 high. However, if the cryptocurrency fails to breach the $0.40 resistance, it could retest support levels or drop further, potentially invalidating the bullish outlook.



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