This post was originally published on Coinspeaker
Key NotesCrypto analyst Ali Martinez highlights a critical support level for DOGE at $0.13, where a rising trendline since October 2023.This level is pivotal amidst ongoing whale sell-offs, with 1.32 billion DOGE offloaded in the last 48 hours.The broader crypto market, including Dogecoin, is under severe selling pressure due to escalating Trump trade war and growing recession fears.
Amid the broader crypto market crash led by the escalating Trump trade war, Dogecoin (DOGE) has come under severe selling pressure over the past week, tanking 15%, and dropping under $0.15 levels.
However, on-chain data shows that the world’s largest meme coin has recently seen strong accumulation.
Dogecoin in Accumulation Phase
Prominent crypto analyst Trader Tardigrade has observed a potential Wyckoff Accumulation pattern forming in Dogecoin (DOGE), signaling a possible market reversal.
Although the current DOGE price action deviates slightly from the textbook Wyckoff model, specifically in phase B, where prices have shifted slightly higher than usual ranges. The crypto analyst highlighted that Dogecoin still exhibits most of the key characteristics associated with Wyckoff Accumulation.
#Dogecoin has undergone a spring of Wyckoff Accumulation 🔥
The current pattern doesn’t perfectly match the typical Wyckoff Accumulation since the price in phase B
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