The leash is tight, waiting for the wind! This old ship of DOGE is accumulating power in a narrow channel, just waiting for Musk's horn to break the deadlock!
Technical Analysis:
Brothers, let's talk about the chart. DOGE is currently stuck at the critical level of 0.216, having been grinding for a full 6 hours, with an amplitude of only 0.3%, almost as if it's been frozen. The Fibonacci 38.2% level has become a short-term ceiling, while the 50% level is supporting the bottom. It’s clear that both bulls and bears are waiting for a signal.
Although the overall market is weak today, DOGE's resilience is noteworthy — the trading volume bars are almost flattened, indicating that the old investors really don’t want to cut losses at this position. On-chain data shows a mysterious address has continuously absorbed three waves of million-level chips near 0.215, which seems like a whale is secretly building a position.
The latest news is quite interesting: Musk just liked a meme about Dogecoin's Mars landing plan on X platform. Although he didn’t directly call for a buy, this ambiguous attitude is enough to excite the DOGE army. It's worth noting that after a similar move last year, DOGE surged 18% within 12 hours. Additionally, the reflow of funds into Bitcoin ETFs may drive the entire MEME sector, with DOGE being the leader and sure to benefit first.
Personal opinion:
I believe this is the "calm before the storm" from three perspectives:
1. History does not simply repeat but rhymes: August has always been a strong month for DOGE; from August 15 to 30 last year, the cumulative increase exceeded 40%, and this year’s adjustment has instead created a golden pit.
2. Whale movements indicate issues: On-chain data shows that the top 10 addresses have increased their holdings by over 200 million this week, indicating that big players are clearly laying the groundwork for the next wave.
3. Technical convergence at the end: The width of the Bollinger Bands on the 1-hour chart has shrunk to the lowest level this month. This kind of extreme compression usually indicates that a major shift is imminent.
Remember the sideways movement at the end of July? At that time, after grinding at 0.208 for 8 hours, it surged 12% due to Musk's "doge moon" tweet. Now we have the same narrow fluctuations + the same low trading volume + the same news-sensitive period; the script might repeat.
Right now, the market is like a tightly compressed spring; the direction of the breakout depends on the flow of funds after the U.S. stock market opens tonight. It is recommended to set a buy order at 0.218 for the breakout and a stop-loss order at 0.213. Set a reminder to go watch a movie — either a big surge or a big drop, the probability of going sideways is less than twenty percent.
If you're not clear about the specific entry points, you can follow me. Friends who have followed me can receive real-time reminders in the village 24/7. Pay attention to my homepage.
