Recently, DOGE's performance has been quite interesting. At the end of December, this coin peaked at $0.135 and then pulled back. It is now stable around $0.1284, with a 24-hour trading volume of 6.048 billion and a turnover rate of 3.74%.

What’s more worth paying attention to is the progress in the ecosystem. According to data, there are now over 1.2 million merchants worldwide supporting DOGE payments. What does this number indicate? It shows that DOGE is gradually evolving from a purely speculative asset into a practical application asset. Meanwhile, the total locked value in DeFi protocols has surpassed $1.5 billion, and cross-chain bridges have connected with Ethereum and Solana. These are not just empty words; they are real, verifiable ecosystem developments.

From a technical perspective, the current price of $0.12428 is sandwiched between strong support at $0.12058 and resistance at $0.12833. Interestingly, the key level at $0.12499 has been tested three times today, but each pullback has not broken below $0.1235. This forms the so-called "triple bottom" pattern. The MACD histogram on the 4-hour chart is weakening but has not crossed the zero line, and the RSI is around 42, indicating that selling pressure is gradually diminishing.

The real focus is on the $0.127 level — it coincides with the 38.2% Fibonacci retracement and the upper boundary of the descending channel. Once broken, it could open up an upward space toward $0.130–$0.135. Whether the main players are "reversing to pick up" or engaging in another round of "trap for bullish signals" depends mainly on the trading volume in the coming days.