Dogecoin has recently staged a thrilling V-shaped reversal, rapidly rebounding from $0.161 to $0.192 within 24 hours after a single-day plunge of 8%, with trading volume surging by 300%, injecting a strong dose of confidence into bulls.

On-chain data shows that whale addresses holding over 100,000 DOGE have crazily accumulated 750 million DOGE in the past week, with 150 million DOGE bought during the crash, reminiscent of similar buying during dips seen in early 2024. Trading volumes exceeding 1 billion are testing the resistance level at $0.204, with clear signals of main fund accumulation and breakout.

From a technical perspective, Dogecoin has formed a double bottom structure between $0.170 and $0.192, with the volume at the second bottom being 40% higher than the first, validating the effectiveness of the reversal. If it breaks through the neckline at $0.200, the target will point to $0.22-$0.23. The weekly chart also shows a parabolic trend similar to Bitcoin, and historical experience indicates that this pattern is often accompanied by over a hundredfold increase.

On the ecological front, Dogecoin is evolving from a meme coin to a practical asset. Polymarket data shows that the probability of its ETF approval by 2025 reaches 51%. Coinbase's Base network has integrated and packaged DOGE, supporting staking and lending in DeFi, achieving a qualitative transformation from a 'tipping tool' to a 'programmable asset.'

However, risks remain. If the MACD death cross cannot quickly break through $0.204, it may retest $0.165. Additionally, the SEC has postponed the review of the DOGE ETF until the end of June, and policy uncertainty may trigger short-term volatility. As an analyst who has witnessed Dogecoin soar from $0.0001 to $0.73, I firmly believe that this is not an ordinary rebound but the starting point of a new bull market resonating with institutional funds, technical patterns, and ecological upgrades. The dual qualitative transformation in fundamentals and technicals will unleash explosive power far beyond expectations.

Now is the key window for positioning. Click to follow for real-time market updates, leave a comment to share your thoughts, and witness the next leap of the king of meme coins together!