Quick commentary on $DOGE

Article in Vietnamese. At 10 AM on November 27. Not a recommendation/suggestion for trading.

Doge is trading in the range of .385-39, this is a strong support area after a decrease of about 27-28% from 0.48. Behind this support area will be 0.27-0.3.

Theoretically, this drop aligns with the price movements of BTC, Doge.

The daily trading volume of Doge is about 200 million. This is relatively low compared to Doge trading sessions that reach billions, but it matches the overall market sentiment.

What makes me suspicious is that unlike BTC, the small trading volume of Doge is very large, accounting for over 90% of the total market value, Doge sharks have been continuously depositing/withdrawing in the past few days.

It seems that the coin is preparing for a new cycle or we are in the bearish wave of wave 1 according to the Elliott cycle?

I am not sure. The only thing I have at this moment is questions that need verification.