As the crypto market continues to exhibit high levels of volatility, the stagnant performance of Dogecoin ($DOGE) has left some investors wondering if the coin’s glory days are behind it.

The $DOGE price continues to be trapped below the $0.075 level – and hasn’t shown any significant bullish momentum since mid-April.

Meanwhile, new market entrants AiDoge ($AI) and Ecoterra ($ECOTERRA) are attracting substantial attention and funding – suggesting they could be the next captivating prospects for investors to monitor.

Dogecoin Continues to Trade Sideways – Is a Price Drop Imminent?

Despite retaining its status as the world’s largest meme coin, according to CoinMarketCap, Dogecoin hasn’t been immune to the bearish investor sentiment over the past month.

Following an impressive 18% price surge in mid-April, $DOGE has been on a sustained downtrend and now trades 23% lower than those highs.

At the time of writing, $DOGE is hovering around the $0.075 region, which acted as resistance over the past two weeks.

Adding to the concerns of Dogecoin holders is the current stagnant state of the token’s price.

The days of substantial bullish or bearish swings on the daily timeframe seem to be a thing of the past, as they are now replaced by minor fluctuations – an indication of diminished trading volume.

This development might shock many in the crypto community, given that CoinGecko reports that 80% of users still “feel good” about Dogecoin’s prospects.

Despite this positive sentiment, it hasn’t translated into price gains – and it looks like the only way is down for $DOGE.

Looking at the price chart, a worrying sign is emerging for $DOGE bulls – a bear flag on the daily timeframe. This pattern usually forms immediately before a sharp drop, reminiscent of the situation in late April.

If $DOGE