The dog market has once again staged that familiar scene: first, the MVRV indicator skyrockets, then it falls into an overvaluation state, followed by a phase of pullback and adjustment, and once the adjustment is complete, it begins to gather strength for a rebound, as if it were a classic series that always has sequels, playing on a loop, with a plot that always fluctuates📉📈.
Currently, the price of DOGE is "hovering" in the range of $0.36 - $0.49, every attempt to break through the resistance level is ruthlessly pushed back, resembling a corgi that desperately wants to climb onto the sofa but repeatedly fails, which is indeed quite helpless🐕💔.
However, it must be admitted that the resilience of the dog market is indeed strong—an impressive 74% of holders are still in a profit state. Those investors holding large amounts behave like seasoned experts, sitting calmly at their fishing spots, completely unaffected by price fluctuations.
Looking back at historical data, you'll find that every time the MVRV indicator reaches its peak, a corresponding pullback occurs. However, surprisingly, right after the pullback, there is often another wave of strong explosive growth.
So, will this time the dog market first drop below $0.36 and then start its rebound journey, or will it directly break through the $0.49 resistance level and continue its rapid ascent?
It seems to always be in cycles of speculation, adjustment, consolidation, and rise, continuously playing out similar patterns, making it truly hard to grasp yet filled with anticipation🐶🚀.
