🔁 Dogecoin (DOGE) Removed a few zeros in eight hours, but will it come back?

After a short rally pushed the meme asset past the key psychological level of $0.10, Dogecoin gave traders a brief moment of excitement. DOGE was able to eliminate some zeros from its price structure within about eight hours, trading within a five-digit range before quickly falling back below that level.
🔸 Never Out of a Bear Market
The overall technical picture still indicates that Dogecoin remains stuck in a broader downtrend, although this rally has boosted hopes for a recovery. At press time, DOGE is trading near $0.096, just below the important resistance level of $0.10 that recently rejected the rally.
Following a rally driven by buying pressure that pushed the price out of the $0.09 zone, a short-term breakout occurred. Additionally, trading volume increased throughout this move, indicating genuine market participation rather than thin liquidity, which was the driving force behind the price surge.
However, this comeback is only temporary. Sellers regained control and pushed the asset back when the price touched the $0.10 level. This behavior underscores the importance of the resistance cluster formed there.
🔸 Volatility Returns
Dogecoin’s performance over shorter timeframes shows a typical spike in volatility following a period of accumulation. The asset was able to move into a higher price range and temporarily break out of its narrow trading range. However, without stronger structural support from the larger trend, these short-term breakouts often struggle to sustain momentum.
The main obstacle remains the long-term outlook. Dogecoin is still trading below the 26-day moving average on the daily chart, which has served as a steady resistance level over the past few months.
The ongoing downtrend has been reinforced by the final rejection of all attempts to rally near this indicator.
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