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Dogecoin (DOGE) Price News: Holds $0.16 Support as Profit-Taking Caps Breakout

Dogecoin (DOGE) has shown resilience by holding support at $0.16 despite a recent 0.5% dip to $0.1657 amid profit-taking by institutional investors. Early in the week, large holders accumulated DOGE at around $0.1620 but reduced their positions as prices neared $0.1670. A significant volume spike of 774M indicated strong institutional participation, although broader sentiment remains subdued. Analysts note that the support level between $0.1617 and $0.1620 is crucial for maintaining a neutral-to-bullish outlook. The price has demonstrated a constructive channel structure, suggesting potential for renewed breakout attempts above $0.16 with the next resistance zone at $0.1665–$0.1670. Any drop below $0.1615, however, could signal structural failure in the upward trend.

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