DOGE current price trend

Figure:https://www.gate.com/trade/DOGE_USDT

• Current Price Overview: As of the time of writing, Dogecoin (DOGE) is quoted at approximately $0.169 on major exchanges, down over 15% from last week’s peak.
• K-line structure: Multiple small doji candlesticks appear at the daily level, indicating that buyers and sellers are repeatedly battling in the 0.165–0.175 USD range, and a clear trend has not yet formed.

On-chain activity and trading volume

• Active addresses: In the past week, the number of on-chain unique addresses rose from 200,000 to 230,000, indicating that users are returning to the network, but the growth rate is limited.
• Trading Volume Ranking: DOGE’s trading volume on cross-chain bridges such as Ethereum and BSC accounts for only 5%, indicating that the demand for cross-chain DeFi remains secondary.

Expert technical analysis

• Symmetrical triangle structure: Ali Martinez pointed out that if the daily close can stay above $0.22, it means the bulls have broken through the upper trend line of the triangle, and in the short term, a target range of $0.30–0.35 is possible; conversely, if it falls below $0.16, it may accelerate down to $0.128.
• Bull Market Extension Expectations: Javon Marks believes that after achieving a 260% increase in the first round, the bulls may continue to drive the bull market momentum, corresponding to a push from 0.65 dollars to 1.25 dollars, but this process requires a recovery in the overall cryptocurrency market and Bitcoin breaking through key levels.

Macroeconomic environment and market sentiment

• Bitcoin Leads the Market: Currently, Bitcoin is still hovering around $55,000–$60,000. If it can stabilize above $60,000, it may drive the altcoin group to recover.
• Federal Reserve Policy: The latest monetary policy indicates that the Federal Reserve may begin tapering its balance sheet in the second half of the year, and the tightening of liquidity could put pressure on high-risk assets.
• Market Sentiment: Optimistic discussions about DOGE on Reddit and Twitter account for 60%, but exchange holding data shows that large holders mostly sold off in the range of $0.18–$0.20.

Short-term support and resistance levels

• Primary support: $0.128 — the important last line of defense for bulls.
• Secondary support: $0.16 - the lower edge of the triangle, tested multiple times.
• Key resistance: $0.174 - Current selling pressure concentration zone.
• Expansion resistance: $0.22 - direction selection point.

Investment Strategies and Risk Management

1. Enter in batches: You can build positions in three batches at the points of $0.165, $0.16, and $0.155 to reduce the risk of a one-time loss.
2. Trend verification: Wait for the daily closing confirmation of the breakout, and then adjust the position size based on directional elasticity.
3. Position Control: It is recommended that the DOGE position does not exceed 5% of the total assets, especially in short-term operations to avoid emotional chasing of highs.
4. Stop-loss setting: If it falls below 0.128 USD, timely stop-loss to exit, to avoid deep drawdown.
5. Optional strategy: If an effective breakout occurs above $0.22, consider locking in part of the profits, and gradually move the remaining position’s stop profit to the $0.30–0.35 range.

This article is only a sharing of opinions and does not constitute investment advice.