The recent performance of Dogecoin indeed makes people restless—its gains are limited, and its declines are not deep. The entire market looks like it’s being pressed at a certain level, repeatedly testing that position. Behind this phenomenon, it actually reflects the true attitude of funds at specific price levels.

From the perspective of wave theory, the wave structure of MEME coins (including Dogecoin) often exhibits extreme characteristics: either rapid surges followed by quick drops, or long-term buildup at critical points. Currently, Dogecoin happens to be in the latter—this is a critical point for a trend reversal.

**Key Resistance Level Analysis**

The $0.165 price is not marked arbitrarily. It just happens to be at the midpoint of the previous downward wave rebound. According to wave theory, this is a typical weak rebound resistance zone. More notably, the recent market has not shown genuine breakthrough intent in this area—on the daily chart, there have been three consecutive trading days of rising and falling, with each bullish candle’s body shrinking. This indicates that upward momentum is gradually weakening.

**Two Possible Directions**

From the current pattern, Dogecoin has only two possible trends: either $0.165 becomes a short-term ceiling, followed by a pullback; or it ultimately breaks through this resistance level, initiating a new upward cycle. Based on the current volume performance and wave structure, the former is more likely, which also means that the risk weight exceeds the opportunity.