Dogecoin's recent trend has been somewhat sluggish, with the four-hour chart oscillating between $0.12 and $0.13. The current price is around $0.1276. The price remains below the 20-day moving average (at $0.14), indicating a relatively stable short-term bearish structure.

In terms of trading volume, the 24-hour turnover is $657 million. While the volume is decent, there are no signs of a breakout; instead, it’s moving downward with the price, suggesting that bullish buying momentum is indeed weakening.

Technical signals are also not very optimistic. The RSI indicator is at 39.6, approaching the oversold zone but not yet triggering a rebound signal, indicating that the downward momentum is weakening but not reversing; the MACD histogram remains negative, with bearish signals still being released, and no signs of an upward turnaround for now; the Super Trend indicator also remains bearish, further confirming the stability of this downward trend.

The key support level is at $0.1258. If this level is broken, it is highly likely that the price will continue to decline toward the psychological level of $0.12. For a rebound, the first resistance to face is at $0.1279. After breaking through that, the price could aim for $0.13, but the moving average near $0.14 will act as a strong resistance, making a short-term breakout quite challenging.

Overall, DOGE on the four-hour chart currently shows no clear reversal signals. We need to wait and see if the price can effectively break through the key level of $0.1285 to determine the next direction.