Dogecoin Price Drops After Trendline Breakdown; Support Holds at $0.1368

Dogecoin’s monthly chart experienced a significant breakdown, signaling a potential change in its price trend as it fell below its long-term support trendline. The asset currently trades near the $0.1368 support level while resistance is situated around $0.1505. This follows a period of notable decline, leaving Dogecoin at $0.1372 after dropping 8.1% in the last 24 hours. However, this movement aligns with the start of what many market analysts refer to as Dogecoin season, a time frame historically observed following similar structural breaks.