Will Dogecoin Make You Rich? 🤑

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Ah, Dogecoin, the cryptocurrency that’s been around the block a few times, and yet still manages to get us excited with its antics. It’s like that one uncle at the family reunion – you’re not quite sure what it’s going to do next, but you can’t help but watch. 🤔

Recently, DOGE has been holding steady near $0.17 on the weekly chart, which is like the crypto equivalent of a strong cup of coffee – it’s not going to blow your mind, but it’s a good way to start the day. And then, just when you thought things were getting dull, it bounced off key Fibonacci and trendline support, like a teenager on a pogo stick. 🤸‍♀️

Now, we know what you’re thinking – what does it all mean? Well, the 200-week moving average is like the steady hand of a seasoned investor, offering support and guidance in these uncertain times. And with the price comfortably above the ascending channel, it’s like the stars are aligning for a retest of the $0.16490 resistance. 🌟

The Rejection, The Technicals, And The Bulls

Thomas Anderson, a crypto expert with a keen eye for detail, recently shared his analysis on X, and we’re going to break it down for you like a pizza with extra cheese. 🍕 According to Anderson, Dogecoin is currently trading at $0.17043, which is like the perfect temperature for a warm bath – not too hot, not too cold. And the price is facing rejection at the yellow horizontal resistance line around $0.16490, like a teenager trying to get into a sold-out concert. 🎟️

But here’s the thing – the 200 MA is acting like a dynamic support from below, like a trusty sidekick who’s got your back. And this moving average support provides bulls with the foundation to regain control, like a team of ninjas sneaking up on their enemy. 🕵️‍♀️

On the M30 chart, Anderson noted that the broader bullish structure remains intact, like a perfectly built Lego castle. And DOGE price is holding above the ascending trendline, like a surfer riding a gnarly wave. 🏄‍♂️ This technical pattern suggests continued optimism for upward movement, provided the price doesn’t break below key support areas. And if it does, well, that’s like wiping out on a wave – it’s not the end of the world, but it’s not exactly fun either. 🌟

The Elliott Theory, And The Bullish Blueprint

Andrew, a crypto analyst with a keen eye for patterns, recently observed a notable long-term wave structure unfolding on Dogecoin’s weekly chart. It’s like finding a hidden treasure map – you’re not quite sure what it means, but you know it’s going to be exciting. 🏴‍☠️ According to Andrew, DOGE has completed a five-wave impulse to the upside, followed by a typical ABC correction, consistent with Elliott Wave theory. It’s like a perfectly choreographed dance – each step is carefully planned, and the outcome is beautiful. 💃

And here’s the thing – price found a strong reaction at the 0.786 Fibonacci level, like a key fitting perfectly into a lock. This reaction suggests that DOGE may have reached a critical support area, where buyers could begin stepping in, like a team of superheroes saving the day. 🦸‍♀️

With this in mind, Andrew believes the current structure appears to be forming a larger 1-2 setup, which could lead to a powerful Wave 3 advance. It’s like a rocket ship blasting off into space – it’s going to be a wild ride, and you don’t want to miss it. 🚀

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2025-07-09 20:12