$DOGE DOGE as a whole is trending upward

This rally is not purely driven by hype; the world's first company dedicated to mining Dogecoin has gone public on Nasdaq, and institutions are starting to invest real money; recently, large transfers have been especially frequent, hitting a six-month high, indicating big funds are secretly positioning.
However, many people are now following the trend to buy, and the long-short ratio has surged to 2.8, so caution is needed to prevent the market makers from taking the opportunity to shake out weak hands.
Personal strategy remains bullish.
Reason: Both the daily and 4-hour charts still show an upward trend, and the positive news of institutional entry has not been fully digested.
Dogecoin at this level is very similar to the silence before the explosive rise in October 2021.
Many forget that before DOGE launched its main upward wave, it moved sideways between 0.24 and 0.28 for three consecutive weeks, with trading volume so sluggish it was almost sleep-inducing. Then? A single large bullish candle changed everything.
Currently at $0.1092, +1.2% in 24 hours, ±0% over 7 days, sideways as can be. But pay attention to one detail — trading volume has quietly increased. An abnormal movement exceeding 5% of market cap is not something retail investors can achieve.
Fear and Greed Index is at 38, with market sentiment approaching freezing point. The weekly average is only 43, indicating short-term sentiment is more pessimistic than the past week's average. Historically, when the FNG drops to the 30-40 range, it often marks a bottom. Where consensus is bearish, the probability of a reversal is higher.
DOGE has fallen 85% from its all-time high, leaving only a small remnant. To put it simply, this is not a correction but a collapse of faith. But the question is — has DOGE’s fundamentals really changed? Elon Musk is still bullish, the ecosystem is still operating, and the meme culture’s foundation remains intact. The 85% drop is more a result of the overall market bubble squeezing rather than DOGE’s own issues.
Key levels: holding at 0.103722 keeps the hope alive, 0.111577 is the immediate hurdle, and breaking through it could lead to 0.12.
I lean towards a bullish signal, but only if 0.103 is maintained.
#Gate广场五月交易分享 $DOGE