As August arrives, the crypto assets market remains heated, with DOGE continuing to be the focal point of investor attention.

As of August 1, the trading price of DOGE has remained around $0.2182, close to the values of the 200-day simple moving average and exponential moving average, situated within a key price range. Looking at the recent market, DOGE has experienced a slight decline of 1.09% in the past 24 hours, while the cumulative decline over the past week has reached 10.53%. However, from a longer-term perspective, the performance of DOGE remains impressive, with a growth of up to 39% in the past month and an astounding 90% increase over the past year.

Yesterday, DOGE experienced a correction of about 5% along with the entire meme coin market, and it seems that the market has entered a consolidation phase. During this phase, the bulls and bears are engaged in a fierce struggle, and market participants are waiting for clearer trend signals.

From a technical analysis perspective, a new golden cross has appeared on the DOGE daily chart, which is usually interpreted as a bullish signal. At the same time, the confirmed double bottom pattern provides support for further price increases. In addition, the descending wedge pattern formed from November last year to April this year also suggests that the price may break upward.

The Relative Strength Index (RSI) has fallen from last week's high of 80 to 55, indicating that recent selling pressure has brought DOGE back into neutral territory. However, market sentiment remains quite sensitive, and further adjustments may occur in the future.

For investors, closely following the changes in the RSI indicator is crucial. Although DOGE has shown strong performance recently, the high volatility of the Crypto Assets market still exists. It is advisable for investors to remain cautious when making investment decisions, considering various factors comprehensively and ensuring proper risk management.