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Challenging the current cryptocurrency market correction, the price of Dogecoin (DOGE) experienced a serious rise in the fourth week of March. Starting from the recent correction’s lowest level of $0.122, the cryptocurrency’s price showed a 78% increase, reaching the current trading price of $0.21.
面对当前加密货币市场的调整,狗狗币(DOGE)的价格在3月第四周经历了严重上涨。从最近调整的最低水平 0.122 美元开始,加密货币的价格上涨了 78%,达到当前交易价格 0.21 美元。
Volume Increase in DOGE
DOGE 成交量增加
This rally recently broke through the highest resistance of the last swing at $0.2 and may signal a potential for further recovery. Amid the recovery of the leading cryptocurrency Bitcoin from $60,000, Dogecoin rebounded from the combined support of the 50-day EMA and the 61.8% Fibonacci retracement level. This V-shaped return, supported by a notable increase in volume, reflects high-momentum buying and the enthusiasm of meme token aficionados.
此次反弹最近突破了上次波动的最高阻力位 0.2 美元,可能预示着进一步复苏的潜力。在领先的加密货币比特币从 60,000 美元回升的过程中,狗狗币从 50 日均线和 61.8% 斐波那契回撤位的联合支撑中反弹。在交易量显着增加的支撑下,这种 V 形回报反映了高势头的购买和 Meme 代币爱好者的热情。
Over the past two weeks, these whales have accumulated approximately 1.4 billion DOGE, equivalent to an astonishing investment of $280 million. This activity may indicate the strong confidence of high-net-worth individuals in Dogecoin’s future market performance. On March 28th, the DOGE price made a significant breakout from the $0.206 resistance, reaching the highest level in 28 months at $0.2288. However, with an intraday loss of 2.4%, it is possible that the cryptocurrency price may retest the broken resistance and potential support.
过去两周,这些鲸鱼已经积累了约 14 亿 DOGE,相当于 2.8 亿美元的惊人投资。这一活动可能表明高净值人士对狗狗币未来市场表现的强烈信心。 3月28日,DOGE价格大幅突破0.206美元阻力位,达到28个月来最高水平0.2288美元。然而,随着盘中下跌 2.4%,加密货币价格可能会重新测试突破的阻力位和潜在支撑位。
Critical Formation in Dogecoin
狗狗币的关键形态
The uptrend in Dogecoin could encourage buyers to pursue potential targets of $0.27 and then $0.3. According to broader chart analyses, Dogecoin has formed a rounded bottom pattern, indicative of a gradual and steady transition from a downtrend to an uptrend, suggesting long-term sustainability of its price trajectory. Consequently, Dogecoin experienced a rally supported by Bitcoin‘s recovery and the accumulation of a large amount of DOGE, creating a U-shaped recovery pattern that exhibits a long-term upward trend.
狗狗币的上涨趋势可能会鼓励买家追求 0.27 美元和 0.3 美元的潜在目标。根据更广泛的图表分析,狗狗币已形成圆底形态,表明从下降趋势到上升趋势的逐步稳定过渡,表明其价格轨迹的长期可持续性。因此,狗狗币在比特币的复苏和大量DOGE的积累的支撑下经历了反弹,形成了U型复苏格局,呈现出长期上涨的趋势。
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