Dogecoin's price has been highly volatile, with a 24-hour low of $0.114784 and a high of $0.239367.

Despite a recent brutal correction across the entire crypto market, some analysts remain optimistic, with one suggesting a long-term target of $6.90 based on historical patterns related to Bitcoin halvings.

The technical analysis shows a megaphone pattern forming on the daily chart, which can signal potential volatility and breakouts.

Other indicators suggest a bearish trend on the daily timeframe, with the price currently trading below key moving averages. 

Market Sentiment: Social media trends and celebrity endorsements, particularly from figures like Elon Musk, significantly influence Dogecoin's price.#dog @Doge Coin $DOGE