What is the current situation of Dogecoin (DOGE)? Let's briefly discuss the latest trends.

The current price is around $0.2385, with a 24-hour low of $0.2185 and a high of $0.2407. The trading volume is quite interesting; on August 11, there was an hour when it suddenly surged to $829 million (which is 2.5 times the usual daily average of $335 million), but it has contracted again in the past two days, and the market is not as active.

From a technical perspective, the 4-hour chart shows a descending triangle consolidation, with the price hovering around $0.235, and the direction is still undecided. The MACD negative value is narrowing, indicating that the bearish force is weakening; the KDJ has reached 8, which is considered oversold, suggesting a potential short-term bounce. The support level is at $0.22; if it breaks, it may drop to $0.20; the resistance level is at $0.245, and if it surpasses that, there is hope to reach $0.25, or even $0.60 in the long run.

Regarding market sentiment, there are many positive indicators: the probability of the spot DOGE ETF approval has risen from 46% to 74%. If it is approved, it could replicate the 200% increase seen in 2024. Additionally, the probability of a rate cut by the Federal Reserve in September is nearing 90%, and the rebound of U.S. tech stocks may heat up the cryptocurrency market. However, while the Meme coin sector is experiencing a general rise, DOGE has been more volatile due to issues from SHIB (such as unusual LEASH supply), which needs to be monitored.

Lastly, regarding Morning Brother's trading advice, wait for a pullback to around $0.2335 to go long, targeting $0.2385-$0.2485. Remember to set a stop-loss; if it breaks key support, exit quickly and don’t hold on stubbornly. #doge