Dogecoin's price is currently undergoing a correction, showing a significant decline of approximately 13% over the past week. Despite the positive sentiment prevailing in the broader cryptocurrency market, Dogecoin, often referred to as the king of meme coins, has yet to capitalize on these favorable conditions and climb above the $0.4 mark.
The situation presents a concerning scenario for Dogecoin enthusiasts, as further analysis reveals the presence of an ascending triangle pattern that could indicate potential risks in the coming days.