With increasingly high minimum and maximum, there is an apparent bullish channel in formation.
If Doge closed a daily candle below $ 0.18, this analysis would be obsolete.
Dogecoin (Doge), the cryptocurrency inspired by a meme that leads the capitalization of its category, navigates in turbulent waters. The last week brought an 8% drop in its price, which is now trading at $ 0.20, after a remarkable rebound at the end of July.
Factors such as uncertainty for the interest rates policy of the Federal Reserve, geopolitical tensions between the United States and Russia, and new import tariffs have hit the market, including this memecoin.
Despite this context, the Dogecoin graph reveals promising indications. You can observe minimal and maximum higher, which suggests the formation of an upward channel.
Trending lines (blue) show ascending peaks and bullish compression, increasing the chances of upward break. In this context, Doge would be at the bottom of the channel.
However, This scenario would lose validity if Doge closes a daily candle below $ 0.18a critical level that investors should monitor closely.
Accumulation of great players
Meanwhile, whales – investors with more than 1,000 million units of the cryptocurrency – are not far behind. The Ali Martinez analyst sample That the number of Doge whales has recently shot up. That is, there is a notable trend of accumulation (which, by simple supply and demand law, is bullish for the price of cryptocurrency).
This group It now controls 72,640 million Doge, almost 50% of the circulating supply of 150,000 million coins. This accumulation reduces the available supply, which could boost the price if demand is maintained.
Even with these signs, Doge is far from his past glory. Its current price is 72% below the historical maximum of $ 0.73 reached in 2021. However, the activity of large investors could be a catalyst and small investors, noticing these purchases, could add, amplifying the bullish potential.
There is an incipient institutional interest in doge
The interest in Doge is not limited to individual investors. Bit Origin Ltd (BTOG), a company quoted in Nasdaq, announced agreements to sell up to 400 million dollars in ordinary class A shares and 100 million in convertible debt, as reported cryptootics.
The goal is finance a treasury strategy focused on accumulating Dogecoinwith the ambition to become one of the largest corporate holders in Memecoin. This institutional movement reinforces confidence in Doge’s potential as digital asset.
The combination of an upward channel in formation, the massive accumulation of whales and institutional adoption (which for now is low, but could grow) draw an intriguing panorama. While the market faces winds against, The technical signals and movements of the great players suggest that Dogecoin could be preparing for a new chapter.
The next few days will be key to confirm whether this memecoin manages to break the resistance or if the level of $ 0.18 marks a turning point.
