Urgent!! Attention to those holding Dogecoin! Family! The Doge market played an impressive game this time, and this morning the Doge staged a pin insertion trick.

Straight to the point: This morning, DOGE/USDT spot price directly spiked to 0.15983, now it has pulled back and is fluctuating around 0.16608.

This rollercoaster ride has wiped out the contract traders, with a $3 million explosion in the 15-minute chart. The trading scene looks lively, but we need to clarify the underlying reasons behind it.

Why the sudden surge?

Elon Musk tweeted an "X" at 3 AM (similar to the Doge logo), and Doge fans collectively reached a peak as on-chain monitoring detected a whale address buying 280 million Doge around 0.158. This address had accurately bottomed out three times before, and more importantly, Bitcoin's 4-hour chart is stuck at 63000, giving the Doge market a chance to play the altcoin bloodsucking game.

The 7-day moving average is about to cross below the 30-day moving average, but MACD is contracting below the zero line.

In my opinion, this is a typical "false death cross"; Doge never follows the usual path. The key is to keep an eye on tonight's U.S. stock market opening. If Cathie Wood's ARK fund continues to increase its position in Coinbase, this could spike up to around 0.172.

What should spot traders do now?

Place buy orders around 0.162 (with a 5% stop loss) and do not chase if it breaks the previous high of 0.172! Doge has always been about "breakthroughs equal peaks." Focus on the correlation between SUI and Doge; these two are recently being operated by the same market makers.

To say something that might offend: the current Doge contract rate of -0.19% indicates that shorts are lying in wait, and the Doge market may be preparing a big move.

We retail investors should remember the three-word mantra — pin insertion for absorption, pump and dump, don’t go all in!

(Insider info: A market maker at a certain exchange placed 30 million fake orders at 0.165; those in the know will understand.) For those wanting the first-hand information on Doge market movements, follow for tonight's live breakdown of the main forces' hanging orders! Long-time followers know that I only share real trading screenshots here.