Dogecoin, the world's largest memecoin, has been experiencing a tough time lately, with its price dropping by over 7% in the past week. Despite this, signs of a trend reversal are evident, and investors may need to be patient for the memecoin's price to rise again.

According to CoinMarketCap data, Dogecoin's price fell by over 4% in the last 24 hours, trading at $0.1363 with a market capitalization of over $19.7 billion. IntoTheBlock's data reveals that only 77% of Dogecoin investors are currently in profit.

However, popular crypto analyst KNIGHT $INJ TO 100$ suggests that Dogecoin's price is still in its accumulation phase, hinting at a few more slow-moving weeks ahead. Once the memecoin exits this phase, investors may witness a massive price surge, potentially touching $1.

Santiment's data analyzed by AMBCrypto indicates that the bulls may soon take over, with Dogecoin's funding rate declining substantially in recent days. Additionally, the memecoin's open interest and MVRV ratio have dropped, suggesting a possible trend reversal. The weighted sentiment graph has also moved up, indicating bullish sentiments outweighing bearish ones.

Market indicators like the Chaikin Money Flow (CMF) and Relative Strength Index (RSI) have registered upticks, hinting at a price hike soon. Hyblock Capital's data suggests that if Dogecoin turns bullish, its price may first touch $0.147, followed by $0.15. However, if the bearish trend continues, Dogecoin may drop to its support level near $0.131.

In conclusion, while Dogecoin's price has been experiencing a downturn, signs of a trend reversal are apparent. Investors may need to be patient for the memecoin's price to rise again, but short-term targets like $0.147 and $0.15 are possible if the bulls take over.