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Is This the DOGE Bottom? Dogecoin Flashes Bullish Signals

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Dogecoin (DOGE) sits at round $0.136 at press time, as the every day buying and selling quantity stands at $1.3 billion. The worth is down virtually 1% in 24 hours and 9% over the previous week. Despite latest weak point, chart indicators counsel a doable shift in route.

Dogecoin Moves Into Wyckoff Spring Phase

Analyst Trader Tardigrade has positioned Dogecoin in Phase C of the Wyckoff Accumulation mannequin, generally known as the Spring. This stage usually marks the last push beneath help earlier than a possible reversal begins. DOGE made a brand new low in the $0.13–$0.14 vary, matching the anticipated transfer on this section.

The function of this transfer is to check help and take away short-term holders. If the setup holds, the worth could enter Phase D, the place it begins to maneuver increased inside the vary.

In addition, the similar analyst additionally pointed to a bullish crossover forming on the 3-day MACD. This sign has appeared twice earlier than this yr—in April and July—each instances adopted by upward worth motion. A 3rd cross is now showing, with the MACD line shifting above the sign line.

Each earlier crossover led to a transparent worth response. If the similar response follows, patrons could step in once more. This indicator is usually used to trace modifications in short-to-mid-term momentum.

Market Cycle Chart Supports Accumulation View

A separate long-term chart from analyst Bark shows Dogecoin in its third main market cycle. Each previous cycle included a correction, adopted by accumulation, then a breakout. The present vary between $0.05 and $0.20 has held since 2022.

The chart tasks a doable transfer towards $5 by 2026. This estimate relies on earlier cycle progress, although present circumstances could differ.

“If historical past repeats itself, the bounce shall be large,” Bark mentioned.

Mixed Signals From On-Chain and ETF Activity

Wallet information reveals combined exercise. As CryptoPotato reported, holders of 10 million to 100 million DOGE have decreased their positions by about 7 billion cash in latest weeks. Whale exercise is now at a two-month low, shifting focus to technical setups.

In the ETF market, new Dogecoin funds in the US saw a quiet launch. Trading quantity round the ETFs stays low. However, DOGE confirmed some restoration after hitting intraday lows of $0.132, with late-session shopping for reversing the earlier drop.

The put up Is This the DOGE Bottom? Dogecoin Flashes Bullish Signals appeared first on CryptoPotato.

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