TLDRDogecoin price opened at $0.1565, briefly peaked to $0.1639, and dropped back to $0.1569.DOGE’s 24-hour price change shows a 0.76% decrease with $2.51 billion traded.Trading volume increased by 104%, reflecting significant market activity.Dogecoin tests its third support trendline, signaling a possible bullish phase ahead.Previous price actions from 2023–2024 align with current market movements, hinting at recovery.During today’s Asian trading session, Dogecoin opened its market with a price of $0.1565 after a slight pump from a 24-hour low of $0.1544. During the course, the market followed an uptrend to a high of $0.1639 as market analysts expect continued historical market action that will unlock new price levels.Dogecoin Price Falls Back to $0.1569 After Brief PeakTracking the ongoing price trend at the time of press, CoinMarketCap data confirms that Dogecoin price has been experiencing price fluctuations over the past 24 hours, currently standing at $0.1569. This represents a 0.76% decrease in its value during the period. On the 24-hour chart, DOGE showed an initial upward movement, briefly reaching highs around $0.164. However, the Dogecoin price quickly reversed, showing a significant drop that pushed the value back down to the current level.Source: CoinMarketCapDespite the volatility, DOGE’s trading volume has increased by over 104%, with $2.51 billion traded in the last 24 hours. The price trend has demonstrated noticeable movement, marking a high and a low within a narrow price range. The Dogecoin price change indicates some uncertainty within the market, with traders watching for further developments. The market capitalization of Dogecoin price stands at $23.82 billion, reflecting a 0.78% decrease in value. This recent fluctuation has garnered attention, but the market remains highly active.Dogecoin Tests Key Support TrendlineAn observation by Trader Tardigrade confirms the CoinMarketCap structure, as the weekly candles illustrate a price dip followed by a recovery, which further aligns with the 2023–2024 period. Dogecoin price is currently testing its third support trendline touch, marking a key point in its cycle.Source: XFrom the Dogecoin price chart, a similar price action between 2023 and 2024 is observed, suggesting that Dogecoin is entering a similar phase of price recovery. The trend shows consistent support along the green trendline, which previously saw significant upward momentum.As the price touches this support for the third time, it hints at potential bullish movement in the near future, similar to previous market behavior in the cycle. If the trend holds, the Dogecoin price could follow a slow upward trajectory leading into 2024-2025. The chart suggests a possible bullish scenario, but it will depend on how the market responds to this key support level.The post Bulls vs. Bears: Dogecoin Price Dips 0.76% to $0.1569 as the Market Eyes Recovery appeared first on Blockonomi.