The analysis reviews Dogecoin and notes its inability to surpass the 0.618 retracement level at $0.29664, leading to a sell-off. It identifies that Dogecoin is forming higher lows, suggesting a potentially bullish structure, similar to patterns observed in 2024. The analyst points out the lack of breakout confirmation until Dogecoin exceeds $0.29664. Failure to break this level could indicate a bearish flag formation, continuing a bearish macro trend. If Dogecoin breaks above $0.29664, a move towards $0.36568 (the 0.786 retracement) is anticipated, which, if surpassed, could lead to a rally towards $0.69227.