The initial hype surrounding an integration of Dogecoin on Twitter has flattened out in recent months. After DOGE climbed to near $0.16 in late October due to Elon Musk’s Twitter acquisition, the price has been mainly bobbing around below $0.10 this year, while the price is now facing further losses.
A look at the 4-hour chart of Dogecoin (DOGE) reveals that the price formed a bearish chart pattern, namely descending triangle pattern. Since February 16, the Dogecoin price has repeatedly bounced off the descending triangle pattern resistance line.
