Dogecoin consolidates – Is DOGE setting up a bear trap for $0.20?

• DOGE was consolidating in a tight range with repeated bounces off a key support.
• Is the current compression phase the calm before a volatility breakout?

Dogecoin [DOGE] may be priming for its next directional move. 

After spending the past week coiling between $0.14 and $0.17, price action is mimicking prior compression phases that have often preceded sharp breakouts. 

Notably, DOGE rebounded at the start of the final week of Q2, bouncing off a key support zone last tested in early April. This level could serve as a springboard for a push toward $0.20 if bulls regain momentum.

But the setup remains fragile. Since topping out near $0.25 in early May, DOGE has seen three failed breakout attempts, each met with sharp long liquidations, signaling weak follow-through from buyers. 

In fact, the most recent drop to $0.14 marked the fourth consecutive lower low within a 60-day window, reinforcing the bearish market structure.