The policy bottom has collapsed, but the on-chain whales have spotted a golden pit at $0.16!

News: Sentiment under pressure vs. whales hoarding

  1. Musk's impact: Stepped down as an advisor to the Trump administration in early June, DOGE fell 22% in one week, community enthusiasm dropped 70%.

  2. Whale activity: On-chain monitoring shows that $20 million DOGE was transferred to Coinbase on June 10, and in the past month, whales have accumulated more than 1 billion coins, totaling 26 billion holdings, with daily active addresses surging 528% to 400,000, creating a six-month high in on-chain activity.

  3. ETF foreshadowing: Bloomberg predicts an 80% probability of approval for a spot DOGE ETF, which would bring in billions of institutional funds.

Technical aspect: Lifeline $0.168, a battle between bulls and bears tonight.

  1. Key level offense and defense:

    • Iron bottom support: $0.168, current price $0.16994 is testing it. Breaking this level will trigger a waterfall to $0.15.

    • Strong-weak dividing line: $0.1801 resistance, breaking through is necessary to open up space to $0.20.

  2. Indicator signals:

    • MACD entanglement: DIF crosses above DEA, short-term rebound momentum is brewing.

    • Volume-price concerns: Volume shrinks during the rebound, be cautious of false breakouts.

  3. Pattern opportunity: The 4-hour chart is forming a double bottom prototype with the previous low at $0.170, the current low at $0.16381, and the neck line at $0.20.

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