Dogecoin's recent decline is quite stubborn. The daily chart clearly shows a descending channel that has been suppressing since October. Each rebound is stopped near the midline of the channel, with each high being lower than the previous one. This pattern is indeed not very optimistic.

Technical indicators give fairly consistent signals — the super trend indicator around $0.140 remains bearish, and the Parabolic SAR points are still above the price on the chart. This indicates that selling pressure still dominates, and the bulls haven't truly regained control. As long as the price cannot hold above the upper boundary of the channel and the super trend line, any subsequent rebounds can only be considered corrective, making a genuine trend reversal unlikely.

Currently, the support levels to watch are in the $0.120 to $0.118 range, which has previously attracted short-term buying interest multiple times. If the daily chart breaks below this support, the next target would be in the $0.105 to $0.100 range, where there was significant demand absorption earlier this year.