Dogecoin (DOGE) brief comment: Danger signals have been illuminated, 0.20 is the critical line!
As Musk turns away from the DOGE department, the technical aspect of Dogecoin also sounds the divergence alarm—under the dual pressure of news and technology, the retail frenzy may become the whales' dinner.
News aspect: Policy halo retreats, risks heat up.
Impact of Musk's departure: On May 29, Musk officially resigned from his position in Trump's 'DOGE Efficiency Department', and the trillion-dollar fiscal reform he led abruptly halted. The market frenzy triggered by the establishment of this department (with holdings soaring to 1.3 billion USD) is quickly retreating.
Trump variable still exists: If Trump wins, DOGE may receive short-term speculation due to policy associations, but Musk and he have recently publicly fallen out over the 3.8 trillion plan, increasing uncertainty about cooperation.
Fundamental flaws: DOGE has an annual inflation increase of 5 billion coins and lacks technological upgrades, resulting in weak long-term value support.
Technical aspect: Top divergence confirmed, downward channel opened.
Top divergence + death cross double kill:
Previous high price of 0.25970, but MACD (DIF: -0.00474, DEA: -0.00281) is in a death cross below water and green bars are expanding, forming a typical top divergence, indicating exhaustion of upward momentum.
→ The Bollinger Bands show price quickly falling back after touching the upper band; if the middle band (currently around 0.230) is lost, it will accelerate the downward probe.
Key Support Level:
0.230 → 0.220 → 0.210 (previous platform), the ultimate defense line is at the psychological level of 0.200 and the year's low of 0.164261. The current price of 0.20452 is approaching the critical line!
Operation summary: Risk aversion first, wait for whales to take action.
Short-term: Divergence repair requires a breakout above 0.230 with volume and stability; otherwise, any rebound is an opportunity to escape.
Mid-term: If 0.200 is effectively broken, it may trigger panic selling, targeting the 0.180-0.190 area; conversely, if it holds, one can lightly speculate on a rebound.
Beware of manipulation: The top 10 addresses control 41.35%, and sudden spikes and crashes are often for harvesting retail investors.
When DOGE's name disappears from White House documents, will you choose to bottom out your faith or short the trend? Follow me for daily spot potential layouts and bull market strategy layouts.
