The price of Dogecoin (DOGE) has been falling after a bearish close on March 29, following a significant 28% increase in the past week. Currently, Dogecoin is down 1.33% in the last 24 hours, trading at $0.211.

Even though the recent surge has hit a rough patch, the overall growth trend of both the price and network of DOGE throughout the month provides insight into what may happen in the short and long term. Starting the month at $0.1164, Dogecoin saw a positive trend until March 4 when a correction began, lasting until March 19. A bullish reversal then occurred, propelling the price to a monthly high of $0.22847 on March 27. This fluctuation indicates that Dogecoin's price is volatile and could recover from its current decline.

Looking at the daily charts, there is an evident battle between bulls and bears which could be influenced by broader industry trends.

Key Resistance Levels for Dogecoin

In addition to market sentiment and whale behavior, data from IntoTheBlock identifies a major resistance point for Dogecoin. With 5.52 million addresses holding DOGE in profit, there is a significant barrier at 6.47 billion DOGE that should be monitored closely.

A total of 573,840 addresses are linked to this point, suggesting it is the final major obstacle preventing Dogecoin from potentially retesting its all-time high (ATH) price of $0.7376.