Have you felt a bit of restlessness in the market recently? That's right! Dogecoin (🐶) is starting to run wild again.

The trend in recent days has been quite remarkable: prices soared, trading volumes surged, and large holders were buying up aggressively, making people a bit excited.

🔍 From $0.163 to $0.173: In just a few hours, DOGE is firing on all cylinders!

Let's first look at a few key time points:

On July 6, DOGE started at $0.163 and peaked at $0.173, with a daily increase of over 5%!

The most intense wave occurred between 12:00-13:00 UTC, during which trading volume skyrocketed to $1.14 billion (6 times the usual volume), and the price shot up like a rocket 🚀.

In the next few hours, DOGE attempted multiple times to break through $0.173. Although there were some fluctuations, the consolidation pattern is still quite healthy.

🐋 On-chain data: Large holders continue to increase their positions, while small investors seem to be taking profits?

Don't be fooled by the price fluctuations; the on-chain capital flow is quite noteworthy:

  • Since June 28, large holders holding 1 million to 100 million DOGE have been continuously increasing their positions without hesitation 📈.

  • Meanwhile, some small accounts are starting to cash out at high positions, which is a normal operation.

  • However, the attitude of large holders to steadily support the bottom has indeed given people a bit more confidence in the market outlook.

📊 Technical Analysis: Several key levels must be noted!

From a technical analysis perspective, DOGE is currently at a critical breakthrough edge:

The price has broken through the resistance levels of $0.1665 and $0.1680, and is currently stable above the 100-hour moving average.

The bulls are currently focusing on the two key resistance levels of $0.173 and $0.175. If they can successfully break through, the price is expected to surge to $0.180, or even test the range of $0.200~$0.212!

🔁 But! If the breakout fails, we must not be complacent:

The initial support level is around $0.1680, with stronger support at $0.1650 and $0.1610.

If these supports are lost, it may pull back to $0.1550 or $0.1520 in the short term.

📈 What do the technical indicators say?

  • MACD: In the bullish zone, momentum continues to strengthen.

  • RSI: Has stabilized above 50, indicating a bullish market sentiment.

In simple terms: the bulls are quite strong right now, and the bears are temporarily hesitant to take action.

💬 Summary: Is now the time to get on board? Or should we wait and see?

Dogecoin is currently in a golden phase of technical breakthroughs and capital boosts, especially with frequent actions from large holders, indicating they may have confidence in future market movements. Although we can't guarantee it will skyrocket immediately, the current consolidation zone indeed has the potential for an explosive breakout at any time 🔥.

Of course, everyone understands the depths of the crypto world; controlling positions and setting stop-loss orders is the key.

✍️ DYOR, manage your risks well, and may everyone set sail in the crypto world! 🌊

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