According to CoinMeta, analyst Joao Wedson pointed out that Doge Coin is currently at an extremely undervalued level in history, especially near the lower limit of the CVDD channel. Historical data shows that whenever the price reaches or breaks through this extreme region, Doge Coin usually experiences a strong rebound in the following months. Although this does not mean that the bottom has been confirmed and the price could still fall further, based on the historical behavior of the CVDD channel, Doge Coin has once again entered a region that deserves close attention. Historically, the risk-reward ratio of buying Doge Coin in these extreme regions is different from when buying it during market frenzies. The market may focus on the price, while on-chain analysis focuses on our position within the cycle.