Profit-Taking Pressure Halts Intraday Momentum

Dogecoin saw a notable price increase during recent trading, but the upward momentum proved to be short-lived. The rally was quickly met with significant selling pressure as traders began to lock in their gains, a common market behavior known as profit-taking.

This wave of selling activity halted the breakout and pushed the cryptocurrency’s price back down. As a result, Dogecoin is now testing the $0.18 mark, a level that has emerged as a crucial area of support.

Market analysts are now closely monitoring whether this $0.18 floor can hold. A successful defense of this level could provide a stable base for another potential move upward, while a break below it might signal further downside for the popular meme coin.

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