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DOGE (狗狗币) has once again reached the "historical buy zone". Will it replicate the big pump legends of 2017 and 2021?
The price of DOGE has entered a key area that previously triggered a 9,000% rise.
DOGE may be the most popular meme coin, and it is once again testing what analyst Ali Martinez refers to as a "historic buying zone." In the history of DOGE prices, every major rise cycle has seen the same rising range before, including the crazy surges in 2017 and 2021.
The latest weekly data shows that the price of DOGE is slightly above $0.20, right at the lower limit of the parallel channel established since 2015.
In the past 10 years, this area has only been touched a few times, but each time it marked the beginning of a big pump—such as a rise of 9,237% in 2017, followed by a breakthrough of 13,337% in 2021. In both cases, DOGE briefly stabilized near the bottom of the channel before soaring to the top.
Interestingly, its structure has not changed. Despite the ever-changing cryptocurrency market and the constantly shifting narratives, DOGE has maintained this rising channel for more than a decade.
The latest touch - currently the fourth since the beginning of 2023 - occurred after a 243% rise earlier in this cycle, also triggered by the same support area.
The resistance of DOGE
The resistance level seems to remain between $0.34 and $0.45, where previous upward momentum has also weakened. However, the current positioning of DOGE indicates a higher risk-reward ratio for those focused on the bigger picture rather than daily news. Historically, every time the market tests this lower limit, it always develops in a new direction.
The next few weeks are crucial, and we will be watching to see if this trend can continue, and whether DOGE can further develop on this basis. As market liquidity increases and funds flow into established altcoins, DOGE may soon enter a phase it is familiar with — a phase that typically does not remain quiet for long.
The price of DOGE has entered a key area that previously triggered a 9,000% rise.
DOGE may be the most popular meme coin, and it is once again testing what analyst Ali Martinez calls the "historic buy zone." In the history of DOGE prices, each major rise cycle, including the crazy breakouts of 2017 and 2021, has been preceded by the same rising range.
The latest weekly data shows that the price of DOGE is slightly above $0.20, right at the lower limit of the parallel channel established since 2015.
In the past 10 years, this area has only been touched a few times, but each time it marked the beginning of a big pump—such as the 9,237% rise in 2017, followed by a breakthrough of 13,337% in 2021. In both cases, DOGE briefly stabilized near the bottom of the channel before soaring to the top.
Interestingly, its structure has not changed. Despite the ever-changing landscape of the cryptocurrency market and the constantly evolving narratives, DOGE (DOGE) has maintained this rising channel for over a decade.
The latest touch—currently the fourth time since the beginning of 2023—occurred after a 243% rise earlier in this cycle, also triggered by the same support area.
Resistance of DOGE
The resistance level seems to remain between $0.34 and $0.45, where previous upward momentum has also weakened. However, the current position of DOGE indicates a higher risk-reward ratio for those focused on the bigger picture rather than daily news. Historically, every time the market tests this lower limit, it always moves in a new direction.
The next few weeks are crucial, and we will see whether this trend can continue and whether DOGE can further develop on this basis. As market liquidity increases and funds flow into established altcoins, DOGE may soon enter a phase it is familiar with—a phase that typically does not remain dormant for long.