Signs of a 200% Surge? 💥$DOGE
Dogecoin Approaches Major Support, Whales Running Away, Elon Musk Speaks Again, Is a Storm Coming? 🔥🔥
Despite Dogecoin (DOGE) dropping 17% over the past week, with prices nearing $0.1958, don’t rush; the bulls are actually gathering strength in secret!
Currently, DOGE has formed a typical descending wedge pattern on the hourly chart, which is a 'bullish reversal' structure in technical analysis. If bullish momentum gathers here and breaks out, it could potentially surge straight to $0.265!
Suggested strategy👇👇:
Entry range: $0.205 to $0.195
Stop loss: Exit if it drops below $0.185
Breakout buying: Increase positions if it stands above $0.23 with volume, with a short-term target of $0.265 and a strong push aiming for $0.30!
On-chain data shows that 'big players' have already gotten on board early:
In the past three weeks, 21 new whale addresses holding 10 million to 100 million DOGE have added a total of 310 million DOGE (approximately $62 million).
Institutional trading volumes are also soaring, with over-the-counter (OTC) trading now accounting for 37% of total trading volume, reaching a new high for the year!
Potential catalysts — Musk + Options + Fund Rotation, a triple threat?
Musk recently hinted again: X (formerly Twitter) will introduce a DOGE payment option!
Open interest for call options at a $0.25 strike price on Deribit surged by 280%, with market expectations clearly leaning towards an upward trend!
The meme coin frenzy on the SOL chain is gradually waning, and funds may flow back to established meme leaders like DOGE!
