Dogecoin's massive trading volume, is it a breakthrough or a scam?
$DOGE has been consolidating around 0.2 for two months, forming a typical ascending triangle pattern, and it's time to choose a direction.
Yesterday, trading volume suddenly surged to 13.49 billion USD, a figure higher than the GDP of many small countries, clearly indicating that funds are quietly positioning themselves.
Market capitalization has returned to 31.7 billion USD, just a step away from the historical high of 40 billion in July. This kind of simultaneous rise in volume and price is exactly the same signal as before the surge at the end of last year!
However, I need to pour some cold water on this; the end of such a triangle consolidation is the easiest place for false breakouts, and many were trapped here chasing highs back then. If it breaks 0.22, it will trigger a wave of technical buying; but if it surges and then falls back, the support level at 0.18 may be lost.
This time, there are indeed major players in action, but when the sentiment among small investors is too uniform, it often leads to unexpected issues. Don’t rush in, wait for a breakout and then confirm before getting on board.
The internal core group is currently positioning itself, those who listen can come directly; it's important to follow the right people, the opportunity is in front of you, it depends on your execution.
