DOGE Prints Another Higher Low Inside a Triangle Pattern, Suggesting Bullish Continuation

Dogecoin Holds Steady Near $0.17 as Whales Double Down Despite Global Uncertainty

Dogecoin is showing resilience near the $0.17 mark, recovering from a recent 4.6% slide as solid support forms between $0.166 and $0.167. Despite geopolitical tensions and broader market volatility, DOGE’s price action suggests underlying strength.

Large holders have been particularly active, with whale accumulation jumping 112% over the past week. This uptick hints at growing confidence among big players, even as DOGE faces stiff resistance at $0.18, $0.21, and $0.36.

Market Backdrop

• The broader crypto market continues to grapple with economic uncertainty, driven by shifting monetary policy and global trade friction.
• The U.S. has postponed fresh tariffs until at least August 1, temporarily easing pressure on risk assets.
• Several major banks now forecast potential Federal Reserve rate cuts of 0.25% to 1% starting as early as July.
• Elon Musk’s recent unveiling of The American Party—an initiative rumored to incorporate blockchain solutions—has reignited some speculative interest in Dogecoin among whales.
• Retail interest in DOGE remains subdued despite whale enthusiasm.
• Analysts suggest Dogecoin could be forming a cup-and-handle pattern, which, if confirmed, might eventually propel prices toward $0.75. However, resistance remains firm as DOGE consolidates.

Technical Picture

• From July 7 at 05:00 UTC to July 8 at 04:00 UTC, DOGE dropped from $0.174 to a low of $0.166, marking a 4.6% decline.
• Strong buying support emerged in the $0.166–$0.167 range, especially during heightened activity between 13:00 and 16:00 UTC on July 7.
• DOGE rebounded modestly to $0.168 late in the session as volatility subsided, signaling potential stabilization.
• Between 03:38 and 04:37 UTC on July 8, DOGE rose from $0.1672 to $0.1680, buoyed by a surge in trading around 04:30 UTC when 4.1 million tokens changed hands.
• The formation of a higher low at $0.1679 suggests a possible shift toward bullish momentum, laying groundwork for a short-term rebound if buying continues.