Dogecoin (DOGE) surged over 10% following a breakout from a 72-day consolidation period, reaching a price of $0.11. This movement marks a potential shift in market structure, aligning with signs of a memecoin season resurgence. The breakout occurred as DOGE moved out of a triangle pattern, with significant accumulation below $0.10, suggesting a possible continuation towards $0.13, despite resistance at $0.12.
A notable whale, who had taken a 10x long position on 40 million DOGE at an average price of $0.1077, saw their losses significantly reduced from $13 million to $89,000 due to the price surge. Additionally, Dogecoin ETFs experienced positive net inflows of $460,000, the first in two weeks, primarily driven by Grayscale's GDOG ETF, indicating renewed investor interest in the memecoin sector.
Dogecoin Jumps 10% After Breaking 72-Day Consolidation
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