Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/i><\/p>\n Over the past week, Dogecoin\u2019s [DOGE]<\/a> price action stalled between key Fibonacci levels. With memecoins such as Pepe [PEPE]<\/a> and Shiba Inu [SHIB]<\/a> experiencing large pullbacks over the past day, DOGE\u2019s price managed to remain relatively stable.<\/p>\n Realistic or not, here\u2019s\u00a0DOGE\u2019s market cap in BTC\u2019s terms<\/a><\/p>\n As the battle for supremacy rages on between bulls and bears, an improvement or decline in general market conditions could swing the advantage either way.<\/p>\n Source: DOGE\/USDT on Trading View<\/p>\n<\/div>\n The sharp drop from the 23.6% Fib level ($0.0765) between 14 August to 17 August found support at the 78.6% Fib level ($0.0595). However, the bullish rebound from this level failed to push past the 61.8% Fib level ($0.0647). This has kept DOGE stuck between the 61.8% and 78.6% Fib levels.<\/p>\n With DOGE\u2019s market structure remaining bearish on the higher timeframes, bulls will need a sustained rally to achieve significant results. A\u00a0look southward showed the potential for bulls to rally from this level, as evidenced between early June to late July.<\/p>\n While bulls attempt to rally again, further bearish action could see DOGE sink to June levels of $0.0530. This will represent a 15% drop from the press time price level. A bullish breakout on the other hand could see bulls hit $0.06840 (50% Fib) or $0.0720 (38.2% Fib).<\/p>\n Despite the bullish rebound causing the Relative Strength Index to come out of the oversold zone, it still remained just above it with a reading of 31. The On Balance Volume didn\u2019t see any notable movement too and extended its decline. Both indicators highlighted the lack of buying pressure and demand for DOGE.<\/p>\n\n
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\nBulls rebounded from key level but it lacked genuine demand<\/strong><\/h4>\n
![\"Dogecoin](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/DOGEUSDT_2023-08-25_10-04-44-12H.png\")
<\/a><\/p>\nDeclining social dominance highlighted muted reaction to bullish rebound<\/strong><\/h4>\n
![\"\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/08\/Dogecoin-DOGE-10.33.17-25-Aug-2023.png\")