The essence of sideways movement is the tension of consensus. DOG's current candlestick chart is like being paused — there’s no lack of market activity, but it’s waiting for a favorable wind to break the deadlock.
DOG candlestick chart: Prices are stuck in narrow oscillation between the resistance level of 0.002755 and the support level of 0.002651, with the Bollinger Bands tightening into a single line, and the MACD volume bars shrinking to almost invisible. What does this indicate? The market is trapped in a 'double bind' of bulls and bears — buyers are hesitant to chase high prices, and sellers are reluctant to cut losses; the entire network is waiting for a signal of change.
Although DOG itself hasn't made any big news, there are two things worth noting in the community:
First, Bitcoin tested the 67,000 mark again last night and failed, leading to a shrinkage in liquidity across the overall meme coin sector;
Second, it was recently revealed that Musk's X platform is testing payment functions. Although Dogecoin wasn't mentioned directly, the market's subconscious will associate DOG with payment scenarios (referencing the historical spike of 28% after his May tweet stating 'DOG can buy Tesla merchandise').
The president's exclusive judgment is: DOG now resembles a tightly coiled spring, with a high probability of continued grinding oscillation in the short term, but the risk of sudden upward movement is far greater than that of a downturn.
There are three reasons:
1. On-chain data shows that whale addresses have been consistently accumulating DOG over the past week, with their average cost concentrated around 0.00268 (close to current support), indicating that large funds are maintaining the price;
2. Historical data shows that every time DOG's trading volume shrinks to the current level, it often experiences more than 5% volatility within 3 days (for example, the sudden surge of 7% after the volume shrink in early August);
3. The 'Twitter catalyst' property of Musk concept coins should never be underestimated — a single emoji could ignite emotions.
Position holders: Being passive is smarter than making moves; set stop-loss below 0.002610. Observers: If it breaks 0.002755, you can enter with a small position to chase the trend; if it falls below 0.002651, wait for 0.002580 to buy. Contract traders: In this kind of market, opening a position is like flipping a coin; it’s better to drink tea and watch the show.
Remember: Narrow oscillation is the cradle of trends — the patience of doing less now is all about being able to pull the trigger accurately when the favorable wind arrives. Tonight, pay close attention to whether BTC can stabilize above 67,500; that could be the starting gun for DOG's breakthrough.
Click on the avatar to follow President Fuqi, and tell me what you think about the current market of DOG coin? Let’s discuss in the comments! Opportunities and risks coexist in the crypto world, stay alert, and seizing the moment is key.#名人MEME热潮
