Currently, Dogecoin is testing the crucial support level at 0.23 USD, with a Relative Strength Index of 33.32. A significant drop in active addresses from 9.8 million to 1.32 million indicates reduced network activity and speculative interest.

If the 0.23 USD support fails, Dogecoin may face deeper corrections, potentially reaching 0.20 USD. However, historical trends suggest that such declines could also signal opportunities for recovery, especially if long-term holders re-enter the market.