DOGE Surge: A Comeback for the Joke Coin or a Game of Capital?
Recently, the cryptocurrency market has been turbulent, but this "Shiba Inu" named DOGE has suddenly perked up! On July 10, it surged 5.7% in a single day, with its market cap approaching the 200 billion mark. Is this wave of price movement just because Musk posted another meme? Let me help you peel back the phenomenon to see the essence.
First, let's look at the data:
24-hour trading volume is 9.25 billion, with a turnover rate exceeding 40%, indicating that retail investors are frantically bottom-fishing!
Although the MACD histogram has narrowed, the KDJ overbought value is 89, signaling an “airborne refueling” signal!
Do you remember when Musk’s endorsement caused DOGE to skyrocket 120 times in 2021? History is repeating itself!
So why do we say this wave of price movement has sustainability?
The “DOGE Army” on Reddit adds 20,000 new members every day, and Twitter topics are crushing Bitcoin. With such a grassroots support, do institutions dare to short it?
The technical aspect hides secrets: the weekly chart has formed a “double bottom reversal,” with the support level at $0.168 having been tested three times without breaking. Now it has stabilized at the $0.2 level, with the next target aiming for $0.3!
An ecological upgrade is imminent: the Lightchain AI mainnet is about to go live, and DOGE will serve as its sole ecological token. By then, it will be more than just a meme!
You may not believe in love, but you can always believe in the smile of a Shiba Inu! DOGE has never been an “air coin,” but rather the most successful “performance art” in the crypto world. While traditional finance is still tangled in valuation models, DOGE has rewritten the rules with community consensus—this wave of price movement may just be the prelude to a bull market!
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