DOGE is currently experiencing its longest period of stagnation in history, having hovered below its historical peak for 1550 days, surpassing any previous adjustment cycle. While many investors have given up, believing that DOGE has lost its vitality, some seasoned participants view this period as a critical phase that could trigger the next surge.

The main reason for the current stagnation of DOGE prices is the global lack of liquidity. Cryptocurrency analysis experts point out that although the global M2 money supply (an important indicator of fund liquidity) hit a bottom in June, it has not shown significant growth. Looking back in history, the last major surge of DOGE occurred after a rapid rise in M2. In contrast, Ethereum has responded more sensitively to liquidity and has already shown signs of recovery, while DOGE is still hovering within a consolidation range.

However, there are still several positive signals worth noting:

1. Retail interest is at a very low level: YouTube, social media search volume, and Twitter discussion levels are all low, which usually indicates that the market may be close to the bottom.

2. Price range remains stable: If DOGE can maintain its current price level in mid-August, it may replicate the historical accumulation rebound pattern.

3. The time window is approaching: August to September has traditionally been an active period for the cryptocurrency market. If liquidity conditions improve, the market trend may experience a breakthrough change.

For the future performance of DOGE, market analysts have provided two potential target ranges: a conservative estimate between $0.90 and $1.14, and an optimistic expectation of $1.50 to $2.00.

Although DOGE's performance is currently mediocre, changes in the market environment may bring new opportunities for it. Investors should closely monitor the global liquidity situation and the overall trends in the cryptocurrency market to better seize potential investment opportunities. At the same time, they should also be aware of the high risks in the cryptocurrency market, make cautious decisions, and manage risks effectively.