Attention, folks! 📣 Are you wondering if Dogecoin's drop means the end of the party? 🐶 Don't worry, because the crypto movement is like a good salsa: it has its ups and downs, but the rhythm doesn't stop! 💃🕺
Watch out for this! 🚨 Dogecoin took a dive of almost 5% in one day, dropping from $0.22 to $0.20, its biggest drop this month! The week has been eventful, with a 10% decline and its market capitalization falling to $31 billion. But, be careful! 👀 Not everything is drama. While the price was dropping, trading volume skyrocketed to over 1.25 billion DOGE! 📈 This, according to experts, was due to a wave of liquidations and sell orders being triggered at the same time. Think of a domino effect, one sale after another! 📉💥
But here comes the interesting part: some analysts are calm. Trader Tardigrade tells us that DOGE continues dancing within its long-term ascending channel, the one that has been around since 2014! 🗓️ This channel has been a trampoline before, and Dogecoin is currently in the lower-middle part, which has historically been a sign of "accumulation before takeoff". 🚀 So things could get good!
Moreover, the latest monthly candles have been bullish, and that, for those who know about charts, is a sign that a strong breakout is coming.
Tardigrade even named it "path to Valhalla"! ⚔️ For the short term, Ali Martínez noticed a descending wedge pattern, which usually indicates a rebound. If DOGE breaks above $0.23, we could see it aiming for $0.265. But if it falls below $0.210, things get a little more tense. 😬
And here’s the spiciest part: whales are not scared! 🐋 Several large investors took advantage of the drop to buy more than 310 million DOGE. Can you imagine? Bit Origin, a heavyweight in digital assets, bought 40 million of those coins as part of its diversification strategy. This tells us that institutional interest remains strong.
So, what do we have left? This correction could just be a breather before Dogecoin gains momentum again. The crypto market is a bit nervous about inflation and the stock markets, but DOGE remains on its long-term trend. Stay tuned!$DOGE
