A common saying in the crypto world is that when Bitcoin sneezes, altcoins catch a cold. Now, Bitcoin is firmly standing above $109,000, bringing warmth to the entire market. As a once-glorious representative of meme coins, Dogecoin has recently gone through a difficult time. It is like a heavily pressed spring, lingering around $0.174, ready to spring forth. The market generally believes that once it successfully breaks through the key resistance of $0.175, its rebound potential could be considerable. However, traders also know that if the spring snaps, the retreat must be faster than a startled rabbit!


Price Dynamics: Dogecoin is currently quoted at $0.174, having slightly risen nearly 3% in the past 24 hours, which is a positive signal. The daily low has dipped to $0.167, and the high has reached $0.1745, showing that buyers are attempting to push up prices.

Recent Trauma: Last month was a nightmare for Dogecoin holders, with prices plummeting by as much as 35%, hitting a low of $0.14. Fortunately, in recent days, the price seems to have found support around $0.165, stopping the decline and bringing a glimmer of hope to the market.

Capital Movement: A noteworthy phenomenon is that trading volume has significantly increased in the past 4 hours, with prices rising accordingly. This indicates that real capital is entering the market, attempting to absorb chips at relatively low levels.

Market Sentiment and Potential Variables: The trend of Dogecoin has always been influenced by the broader environment and sudden events:

Potential Tailwind (Positive News):

If Bitcoin can maintain its strength, especially successfully staying above $113,000, Dogecoin, as a younger sibling, is likely to be driven upward.

The most uncertain positive factor is if opinion leaders like Elon Musk mention Dogecoin again on social media. This kind of shout-out effect has historically ignited market enthusiasm in an instant, driving prices to soar. However, this is unpredictable and should not be relied upon as a decision-making basis.

Sword of Damocles (Negative News):

The July Federal Reserve meeting is a global concern. Any hint of interest rate hikes or tapering can amplify the volatility of the entire financial market, and the cryptocurrency market is no exception, so vigilance against associated risks is necessary.

Practical Strategy: Balance Attack and Defense to Achieve Continuity

Entry Timing:

Conservative: Patiently wait for the price to pull back to around $0.161; consider small position test entries, but stop-loss must be firmly set below $0.158.

Aggressive/Waiting for Deep Correction: If the price dips again to $0.156, consider moderately increasing positions, but stop-loss must be stricter, set below $0.152 to avoid an effective breach of the long-term channel, and you must exit.

Breakout Follow: Observe the price with volume; trading volume is key! Only consider following if there is an effective breakout of $0.175 and confirmation of support during a pullback.

Exit Strategy:

Short Term: When the price approaches the $0.175 resistance area, if there are signs of weakening upward momentum and shrinking volume, you should consider taking partial profits.

Medium Term: If the price can reach $0.205, in the dense moving average resistance area + previous technical gap, be sure to significantly reduce positions or even exit and observe. The pressure here is enormous, and a breakthrough is not easy.

Core Experience: For the breakout at $0.175, you must closely monitor the trading volume. A breakout lacking volume support is often a trap to lure buyers, and blindly chasing highs can easily lead to being trapped.

Turning Point Window, Proceed with Caution

Currently, Dogecoin is like a spring compressed to its limit, lingering at the monthly level turning point. The initially formed double bottom and the soon-to-end wedge provide a potential upward engine. However, the $0.1525 line, a lifeline from ancient times, is an absolute bottom line that must not be lost. Starting in July, the market's focus should be firmly locked on the $0.175 trigger point. If it can break through with volume and establish a foothold, then you can add positions accordingly. If a false breakout or a break of key support occurs, you must decisively withdraw. In the turbulent waves of the crypto sea, a bull market may rely on courage to gain profits, but in a bear market, only agility and discipline can preserve oneself. Gradual deployment and flexible profit-taking are the only ways to be the ultimate winner in the market.



A collection of comments for those holding Dogecoin! Let's discuss! If you currently feel helpless or confused trading in the crypto space, I hope my sharing can bring you some inspiration and help. Old Zhao lets you take a step ahead, creating an information gap with others!#DOGE冲冲冲 $DOGE #非农就业数据 $BTC