Crypto analyst Joao Wedson has spotlighted DOGE as a top contender for a potential rally, citing four key market signals:
š¹ $380M in Trapped Liquidity
Wedson noted that during DOGEās last major drop, ~$380M was locked at the $0.50 levelāa zone that previously preceded strong upward momentum after extended accumulation.
š¹ DOGE vs BTC Near Key Support
DOGE/BTC is nearing a critical support level not seen since just before the 2021 bull runāsuggesting DOGE could start outpacing BTC in attention and price action.
š¹ Memecoin Index Shows First Recovery Signs
Tracking 16 major memecoins, the Memecoin Index is finally turning green after a prolonged declineāhinting at renewed strength across the sector.
š¹ Market Cap High, But Volume Still Lagging
Despite the memecoin market cap being larger than in 2021, Wedson highlights that Open Interest ($3.2B) and daily volume ($12B) remain relatively lowāleaving room for upside.
š Will history repeat for DOGE?
