Dogecoin Price Returns to Key Local Peak as Uptrend Anticipated

Dogecoin has struggled to maintain its price above $0.20 in the past 24 hours, following a drop below this level for the first time since November 2024. Key points include:

The recent decline is part of a pattern that often precedes rallies for Dogecoin.
Currently, the price is around $0.22, a retest of a previous local peak after a rally in early 2024.
This price point follows a correction from a December 2024 high of $0.475.
Historically, Dogecoin tends to revisit former peaks before entering significant upward movements.
Trader Tardigrade notes that consolidation around $0.22 could last weeks before a potential breakout.
Projected targets suggest a possible next rally exceeding $0.80, surpassing its all-time high of $0.7316.
The 4-hour Relative Strength Index (RSI) has shown bullish signals, but a breakout from the descending trendline is required for an uptrend.

As of now, Dogecoin is trading at $0.2062.