Dogecoin (DOGE) price is undergoing a phase of market consolidation. Recently, it has experienced a loss of momentum, trading volume and price volatility. Even during this mini lull, interest around the meme currency is as strong as ever, with analysts expecting the digital dog to go boom soon. Currently, dogecoin price is trading at $0.1949, up a strong 5% of the past 24 hours alone. Some pundits are already speculating that this may be the swift current that carries the entire price upstream.

Indeed, DOGE has been at the center of a tug of war between bullish and bearish forces since the second quarter. This battle has resulted in an intense price compression inside a symmetrical triangle pattern. That leaves the price at a very make-or-break moment. If it breaks a firm move above this period of consolidation, it might explode beyond its near-term peaks at $0.48. Getting to that elusive $1 price point is still a significant hurdle.

Technical indicators offer mixed signals. While Dogecoin could trigger a breakout towards the upper Bollinger Band at $0.25, a strong bearish rejection below $0.17 is a possibility. Moving Average Convergence Divergence (MACD) is indicating an impending bullish crossover. With selling pressure losing steam, this could be a sign that short-term momentum may be shifting.

Despite its declining popularity, analysts are still positive on Dogecoin’s overall impact and future, with huge growing demand expected. Should Dogecoin's price successfully breach its current range, it is expected to continue its upward trajectory towards the pattern's resistance level. The broader cryptocurrency market sentiment is always a key factor influencing Dogecoin’s price action. External factors beyond its control can play a big role in what generates value.