As chart patterns point to $0.27 to $0.295 and traders track golden cross signals, Dogecoin has risen 22% within a week.


Summary

  • Dogecoin has risen 22% in the past week, with analysts targeting post-breakout levels of $0.27 and $0.295.

  • The DOGE daily chart shows a golden cross, with $0.20 becoming a key market support level.

  • During strong market activity, whale purchases exceeded 1 billion DOGE, with open contracts surpassing $3.5 billion.

🐶 Dogecoin (DOGE) has recently performed explosively! It rose 22% in the past week and surged 7.5% in the last 24 hours, currently trading at $0.24 📈, with daily trading volume reaching $3.45 billion 💰. Analyst Tardigrade pointed out that a typical bull flag breakout has formed on the 4-hour chart 🚀, with a target price locked at $0.295 💥.

This market movement is actually traceable: the price rose from $0.20 to $0.24, forming a flagpole 📊, and then entered a brief downward sloping consolidation period, just like a flag waving gently in the wind. Now the price has successfully broken through the upper channel, which from a technical perspective means the upward trend may continue 💡.

Support levels are around $0.23 and $0.22, which are important baselines for buyers and market sentiment; resistance is around $0.25, and breaking it could lead to a sprint towards the target price of $0.295 🔥.

Overall, DOGE's short-term trend is strong, and technical patterns give investors clear signals: as long as support holds, the likelihood of continued upward movement is high 😉. Friends can monitor price changes to seize opportunities, but also remember to control risks ⚠️!

🐶 Dogecoin (DOGE) has new developments! Analyst Ali Martinez pointed out that the hourly chart shows the price rebounding from the 0.618 Fibonacci retracement level near $0.23 📈 and is moving out of a downward channel. His recent target price is set at $0.27 💥.

Meanwhile, based on Fibonacci extension lines, the potential breakout target is between $0.25 and $0.28 🔮. Martinez believes that as long as the price stabilizes above the breakout level, the possibility of a surge to $0.27 is very high 🚀. Friends can pay attention to short-term trends and seize opportunities, but also remember to control risks 😉⚠️.

Golden cross appears in the daily time frame

Additionally, the DOGE/USD daily chart shows that the 50-day simple moving average has crossed above the 200-day simple moving average. This 'golden cross' occurred after a period of range-bound trading.

Trader Tardigrade pointed out that the last cross occurred at the end of 2023, after which there was a significant rebound. Currently, the crossing level near $0.20 has become the market's support level.

Whales entering, speculation retreating

Data from Coinglass shows that Dogecoin futures open contracts are valued at $3.5 billion, up 8% in 24 hours. The value of options open contracts has risen by 37%, reaching $3.1 million; options trading volume increased by 80%, reaching $932.4 million.

According to CryptoPotato, large wallets have purchased over 1 billion Dogecoins in recent trading days, worth about $200 million. These holdings currently account for nearly half of the circulating supply, echoing the overall bullish sentiment in the cryptocurrency market.

In fact, before the SEC made a decision on the DOGE ETF, the price increase had already quelled discussions about a stall in the upward trend, and people's focus shifted back to trading activities. #DOGE