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Recently, the dynamics of the Crypto Assets market have attracted attention, especially the performance of DOGE, which is particularly noteworthy. After a strong rise last week, the price of DOGE has experienced a significant pullback, with a decline of about 6.41% over the past eight days. However, this pullback may present new opportunities for investors.
Data shows that in the past 48 hours, large holders (commonly known as "whales") have consumed over 310 million DOGE, with a preliminary estimate of the increase exceeding 73 million USD. These purchases mainly come from large wallet addresses holding between 100 million and 1 billion DOGE. Since July 17, the total holdings of whales have increased to 25.42 billion DOGE, reflecting that after a short-term value pullback, large-scale funds are entering the market.
From a technical perspective, DOGE has broken through the wedge pattern of several months and the ascending channel of 146 days, which may indicate that a new round of rise is about to come. Currently, DOGE is testing the neckline of the double bottom pattern, and this key support level may become the starting point for the next round of rise.
The formation of the double bottom pattern can be traced back to February when DOGE fell below $0.25. Since then, the price has fluctuated between $0.1290 and $0.1430. If the double bottom pattern is confirmed, breaking the $0.26 support level could drive the price up to $0.46, with a potential rise of 115%.
However, investors should approach these predictions with caution. Although DOGE has performed strongly in the current market cycle, the Crypto Assets market has always been highly volatile and carries significant risk. Investors should fully consider their own risk tolerance and conduct thorough market analysis before making decisions.
In addition, market observers should pay attention to the broader development of the crypto assets ecosystem, including changes in the regulatory environment, technological advancements, and mainstream adoption, all of which may have a significant impact on DOGE's future trends. While there are many opportunities, it is equally important to remain rational and vigilant.