Walmart's payment pilot lights the fuse for $DOGE ! But is Trump Coin stealing home?
The technical analysis of DOGE shows a tug of war: the 1-hour K-line formed a double top at 0.2449 and is now testing support. MACD is close to the zero line and KDJ is oversold, indicating a demand for rebound, but it needs to break through the 0.2449 resistance level to confirm the trend. The moving average system is in a bullish arrangement, but the MA20 is turning, raising caution about a potential trend reversal due to the crossover.
The news front presents short-term positives: After Musk denied that Twitter's integration with DOGE caused a 10% drop in a single day, a V-shaped reversal occurred early this morning, with Binance's 24-hour increase reaching 8% and trading volume surpassing 14.8 billion. Walmart's Texas pilot payment and institutional accumulation bring substantial benefits, but we must be wary of the impact of Trump Coin (TRUMP) diverting funds.
On-chain data shows a contraction in trading volume during the rebound, and there are arbitrage opportunities due to price discrepancies on DEX platforms like PancakeSwap.
Overall judgment: DOGE is in a short-term rebound cycle, breaking through the 0.2449 resistance level could confirm a bullish trend, while dropping below the 0.22 support level could indicate a second bottom. Key attention should be paid to Musk's updates, changes in policies from the U.S. Department of Efficiency, and the high premium risks on exchanges like Binance.
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