From a technical perspective, Dogecoin (DOGE) has formed an important psychological support level around $0.22, where buying activity is very active and trading volume is strong. However, $0.23 has become a short-term 'ceiling', where selling pressure is significant and trading volume has noticeably increased.
Analysts remind everyone that the $0.22 line may be tested repeatedly, and investors need to pay attention to whether the price can hold this support. At the same time, if the price can successfully break through $0.23, it may bring a new wave of upward momentum.
Moreover, the heat and topics on social media are also affecting the price of Dogecoin, with market sentiment becoming an important factor driving price fluctuations. Increased buying from large holders, combined with active trading volume, is accelerating the pace of price fluctuations in the short term.
Overall, Dogecoin is currently in a phase of low accumulation and short-term selling pressure intertwined. Technical indicators and trading volume suggest that the market may still experience significant fluctuations in the coming days. Beginners in the crypto world, remember to closely monitor key price levels and market sentiment, and manage your risk well!