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\u2019s 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 \u201cAs price approaches the apex, the structure is becoming increasingly compressed, and a breakout could be getting closer,\u201d he added<\/a>.<\/p>\n The last full business week of September brought something Dogecoin fans hadn\u2019t 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\u2019t 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\u2019s 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\u2019s Next Double-Digit Surge<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" 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. 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 […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-235489","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/235489"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=235489"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/235489\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=235489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=235489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=235489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}ETF Flows Suggest Caution<\/h2>\n