Dogecoin (#DOGE) has exploded again! In the last 24 hours, whales have purchased 1 billion coins, nearly 200 million USD directly injected into the market, pushing the price up by 11.2%, now stabilizing around 0.24 USD.
Even more impressive is that Bitcoin holders now hold nearly half of the total supply, and institutional confidence is high. The crazy accumulation of DOGE, with fewer sell orders, may lead to even more intense fluctuations in the future. Technically, in the short term, 0.26 USD looks promising, with bulls eyeing 0.28 USD; once broken, it may shoot straight to 0.35 USD.
The long-awaited golden cross has arrived! The 50-day moving average has crossed above the 200-day moving average, and historically, every time this occurs, it can herald a major market movement, such as that wave at the end of 2024 where prices soared by 130%. Coupled with whale purchases and strong technicals, this may be the starting point of a new bull market.
The momentum indicators are also strong: DOGE is above the 30-day moving average, with an RSI of 57, indicating room for upward movement.
Even more exciting is the DOGE ETF news! Institutions are optimistic, with Polymarket giving a 75% approval probability, and Bloomberg even raising it to 90%, citing an increasingly friendly regulatory environment. If it is approved, the price could rocket, with whale purchases, technical breakthroughs, and retail FOMO sending DOGE to the moon.
Traders are now closely monitoring the resistance zone of 0.242~0.245 USD, aiming for a breakout to 0.30 USD; holding the support at 0.227 USD shows a stable bullish atmosphere.
