"After dropping from $0.70 to $0.21, will this rebound be just a flash in the pan? Or is an unexpected major counterattack quietly brewing?" Just when everyone thought Dogecoin had 'laid flat', a leak suddenly ignited the market's imagination.
In recent days, Dogecoin (DOGE) has once again been at the center of the crypto discourse. Just this week, it experienced a rollercoaster for investors: plummeting from a high of $0.25 to $0.21, briefly bouncing back to $0.23, but as of now, it still hovers between $0.22 and $0.23, with a weekly drop of 10%. At this moment, market sentiment is caught in a dilemma: is this a signal to 'cut losses' or the best time to 'get in'?
Crypto analyst Javon Marks' views have attracted considerable attention. He pointed out that since the end of 2023, DOGE has broken through a long-term downtrend line that had been suppressing prices since the historical high of $0.70. This breakthrough suggests that Dogecoin may have completed a structural transformation: higher highs and higher lows are beginning to form.
Technical aspect: Targeting as high as $0.65 or even higher?
Marks sets Dogecoin's mid-term target at $0.65. Based on the current price around $0.23, this implies an upside potential of up to 174%. Moreover, he pointed out that if it can sustain an increase in volume and break through key resistance, DOGE may reach highs of $0.74 or even $1.25 in the future.
However, a current obstacle cannot be overlooked: the strong resistance level at $0.25 to $0.26. This was a key support level at the end of 2024, which has now turned into an upward barrier. Based on the rebound performance over the past few months, DOGE has repeatedly encountered resistance and pulled back at this level: it fell after reaching $0.28 in February, briefly broke through $0.19 in March without success, and stalled multiple times at $0.24 in May.
Fundamentals: Positive signals appear in on-chain data.
Despite price fluctuations, on-chain behavior shows a different picture. **In the past 7 days, the number of newly created wallets increased by over 100%, active addresses grew by 110%, and even zero-balance wallets increased by 155%.** This surge in on-chain activity indicates that new users are entering the market in large numbers or existing users are re-engaging.
Although an increase in addresses does not necessarily equate to a price increase, it is indeed an important signal that is often underestimated. More addresses mean a broader network effect, laying the groundwork for subsequent social dissemination and capital relay.
Key point: $0.25 is the barometer, while $0.30 is the emotional trigger point.
Whether DOGE can clearly stabilize at $0.25 over the next period will determine if it has the momentum for a new round of price increases. Only by breaking through $0.28 with accompanying trading volume can it open up upward space. The real 'crazy bull moment' still requires external catalysts such as explosive news on social platforms or listings on new exchanges to drive it.
As many seasoned investors would say: "The Dogecoin market is not something that can be understood just by looking at charts; it also depends on heat, memes, and community atmosphere." Hidden behind this is the logic of emotional resonance. And emotion is a variable that is extremely difficult to quantify.
Tip:
In the face of such a volatile market, you may have already scrolled through too many candlestick charts, analysis graphs, and opinions shouting 'bullish' and 'bearish', but still cannot form a systematic understanding. At this time, what you need is not more 'voices', but an intelligent investment research tool that can integrate on-chain data, price trends, and social heat.
The AI price prediction and on-chain analysis functions provided by the Mlion.ai platform are specifically designed for such 'meme coins + emotional markets'. You can track the active changes in addresses, capital flows, and market sentiment scores for highly active coins like DOGE, and obtain high-probability strategy recommendations based on AI algorithm trends.
Additionally, the AI news analysis and AI research report functions can help you capture the most valuable market signals in the least amount of time, thus avoiding emotional misjudgments and achieving scientific decision-making.
Disclaimer:
The above content is for information sharing only and does not constitute any investment advice. The crypto market is highly volatile; invest cautiously and prioritize your own judgment.