#doge⚡
The popularity of BigDog is increasing. Can the King of MEME catch up?
🚀🚀🚀🔥🔥🔥
After the election results were announced, DOGE soared more than 150%. However, it was previously in a small consolidation range between 0.353 and 0.430.
During DOGE's continued consolidation, DOGE's daily chart has formed a bullish ascending triangle pattern and is about to break out.
However, it should be noted that DOGE's current price has reached a level that has historically faced selling pressure and downward momentum.
Based on recent price action and historical momentum, if DOGE breaks through this barrier and closes above 0.45, there is a high probability that it will surge 30% to 0.57 in the near future.
On the positive side, BigDog is also regaining more attention.
In the past 24 hours, DOGE's open interest (OI) has surged 17% and increased 11% in the past 4 hours. This growing open interest indicates that the market still has strong belief and confidence in Dogecoin, leading to an increase in new positions.
In addition to the active participation of retail investors, whales and institutions have also shown increasing interest in Dogecoin. Data shows that whales' large transactions have increased by 41.15%, and long-term holders' activity has increased.
The combination of these bullish on-chain indicators and technical analysis indicates that there may be upward momentum in the coming days, and there may still be opportunities to enter the market.
DOGE is currently around 0.43, with an upward momentum of more than 8.15% in the past 24 hours. During the same period, its trading volume increased by 5.5%, indicating that DOGE is becoming more and more involved under the bullish outlook.
If you want to seize this round of bull market, it is definitely too late to learn and sell now. It is best to have someone to take you to get started quickly.
I am David, welcome to communicate!