The market digs a pit in despair.
Rising amidst divergence.
And DOGE is brewing a silent explosion!
News front: The battle between bulls and bears intensifies.
ETF progress: 21Shares' Dogecoin spot ETF application has been formally accepted by the SEC, with a review period of up to 240 days (until January 9, 2026). Although the outcome is uncertain, the open regulatory stance has raised market expectations for approval.
Musk's retreat: Musk has withdrawn from Trump's government 'DOGE' (Department of Efficiency) plan, creating short-term negative sentiment. However, if Trump wins, this policy framework may still boost the public interest in DOGE.
Institutional actions: A single transfer of 20 million dollars in DOGE was observed at the beginning of June, showing clear signs of whales accumulating at low levels, forming a 'divergence' with retail panic.
Technical front: Divergence signal + key level showdown.
Trident bottom structure: The current price is repeatedly testing the 0.185-0.195 range, forming a multi-pin bottoming pattern. If the daily close stabilizes above 0.195, it will trigger a gap fill (target 0.215); if it falls below 0.185, it may plunge into the abyss at 0.13.
Volume-price divergence: When the price dropped to the low of 0.168 (June 5), the RSI did not make a new low (hovering around 40), forming a bullish divergence. At the same time, the trading volume at the support level increased, indicating that the main force is secretly accumulating.
Moving average pressure: The 50-period moving average (0.216) is the boundary between bulls and bears in the short term; breaking through this level will open up space for a rise to 0.25.
Big G has placed an order at 0.185 to ambush long positions! Do you think Musk is really retreating or is it a smokescreen? Want to know the specific buy and sell points? Click on my avatar to follow me and start your journey in the crypto world.
