\n
<\/p>\n
The OG meme coin was rejected even before it had the chance to truly challenge the $0.10 resistance earlier this week, but it has rebounded from the subsequent multi-day low.<\/p>\n
Popular analyst Ali Martinez noted that a breakout might indeed be brewing, but the asset would have to overcome a key resistance level to do so. However, the ETF inflows do not support this thesis.<\/p>\n
Recall that Dogecoin surged to $0.104 during the market-wide rally on September 22-23 before the bears stepped up and pushed it south hard. In the span of just several hours, the meme coin slumped to $0.92. Since then, it has tried to take down to $0.10 resistance on several occasions, but to no avail.<\/p>\n
The latest rejection came on Friday amid the market-wide crash that drove BTC down<\/a> by over $3,500. DOGE, on the other hand, dipped from $0.098 to $0.091 before it rebounded to $0.092-$0.093 during the weekend.<\/p>\n Martinez noted that the asset’s consolidation phase inside a descending triangle continues on the 4-hour chart. Dogecoin would have to overcome $0.095 decisively and close above it on the same timeframe, which would confirm a bullish breakout. The popular analyst, who last week outlined<\/a> that DOGE whales had scooped up over 1.14 billion tokens in 4 days, predicted that a 14% surge to $0.106 would be next if the meme coin reclaims the aforementioned resistance.<\/p>\n “As price approaches the apex, the structure is becoming increasingly compressed, and a breakout could be getting closer,” he added<\/a>.<\/p>\n<\/blockquote>\n The last full business week of September brought something Dogecoin fans hadn’t seen \u2014 an actual interest in the spot exchange-traded funds tracking its performance. The total net inflows hit a new record of nearly $2.90 million. Although this amount is nowhere near as impressive as the inflows into the BTC, ETH, XRP, or SOL ETFs, it was still a record for the meme coin.<\/p>\n This was seen as bullish at the time, but the next five-day trading period couldn’t maintain the momentum. Data from SoSoValue shows that the interest evaporated on Monday, but the inflows returned on Tuesday with $878,790. However, investors took out $551,430 a day later, and there were no reportable inflows on October 1 and 2.<\/p>\n As such, Dogecoin’s institutional side remains fragile, but the asset has never been driven by such large players, as retail often dominates its price moves.<\/p>\n The post Analyst Explains What Can Trigger DOGE’s Next Double-Digit Surge<\/a> appeared first on CryptoPotato<\/a>.<\/p>\n\n\n
ETF Flows Suggest Caution<\/h2>\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The OG meme coin was rejected even before it had the chance to truly challenge the $0.10 resistance…\n","protected":false},"author":2,"featured_media":34612,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-47714","post","type-post","status-publish","format-standard","has-post-thumbnail","category-crypto","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/47714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=47714"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/47714\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/34612"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}