[Analysis] "Dogecoin maintains stable price despite instability... Position strengthened"

A positive analysis has emerged for the leading meme coin, Dogecoin (DOGE).

On the 17th (KST), the cryptocurrency-focused media outlet CoinDesk stated, "Dogecoin broke through $0.180 after a short-term uptrend overnight," and analyzed, "Achieving this rise despite geopolitical risks suggests that Dogecoin's market position has been strengthened."

However, since the morning, renewed selling pressure due to the Middle East conflict has emerged in the market. As of 2:26 p.m. that day, Dogecoin is trading at $0.1740, down 1.83% from the previous day.

Meanwhile, according to CoinDesk’s technical analysis, Dogecoin's resistance level was $0.177, which was temporarily surpassed that day. CoinDesk explained, "A pattern of higher-highs and higher-lows formed on Dogecoin that day."

Conversely, the key support level is $0.168, and if the support level breaks, a price drop of up to 30% is also being discussed.

Additionally, fundamental factors mentioned for Dogecoin included Elon Musk, Tesla CEO’s increased activity on the base network and expectations for a Dogecoin spot ETF.