Family, Brother Yang is here to chat about the latest行情 of Dogecoin (DOGE)! Recently, DOGE has been hovering around $0.235. From a technical perspective, it has formed a descending triangle pattern, which is a sign of intense tug-of-war between the bulls and bears. Currently, $0.22 is a key support level, and if it breaks below that, it could continue to drop; however, if it can break through the range of $0.24 - $0.246, then the upside potential will open up, and it might even rise above $0.25.
Let's talk about on-chain data. Whale activity has significantly increased recently. Addresses holding 10 million to 100 million DOGE have accumulated over 2.2 billion since April, indicating that major investors are quite confident about DOGE's future performance.
In terms of market sentiment, as a representative of meme coins, DOGE's price is influenced not only by technical factors but also by community activity and KOL trends. Currently, optimistic voices dominate the community, and some investors expect DOGE to challenge the $1 mark in the fourth quarter. Moreover, although the open interest for DOGE has declined from its historical high, it still remains above $3 billion, indicating that the market's attention on it is still very high.
Brother Yang gives everyone an operational suggestion: consider going long around $0.23500 - $0.23000, with the initial target set at $0.24000. If luck is on your side, it might even reach around $0.25. However, the market is volatile, so everyone must set stop-loss orders when trading, control risk, and protect the principal, which is the most important thing! #Doge🚀🚀🚀