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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
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Dogecoin Eyes 275% Surge? Golden Cross and Derivatives Boom Fuel Bullish Hopes
Dogecoin is on the brink of a potential massive rally. A golden cross technical signal, paired with a sharp surge in derivatives market volumes, is boosting investor expectations for gains of up to 275%, which would send the price toward $0.76 – close to its all-time high.
Current Market Situation On Wednesday, August 14, DOGE dropped 3.59% to $0.237. This decline is more a reflection of the broader market retracement than a loss of bullish momentum. The golden cross, which appeared on the chart earlier this week, remains intact, suggesting that short-term trends could again favor buyers.
History Could Repeat Itself A similar setup occurred in November 2024, when DOGE surged 276% after the golden cross appeared. At that time, bullish sentiment was strong, and today’s market conditions look strikingly similar.
If the pattern repeats, Dogecoin could climb to $0.769, challenging its all-time high.
Key Condition: Buyer Reaction The golden cross will only matter if investors respond with significant buying activity. The RSI (Relative Strength Index) is currently fluctuating without a clear direction, indicating that sellers are also waiting for their chance.
Derivatives Markets See Explosive Interest Beyond spot trading, DOGE futures contracts are experiencing a dramatic rise in activity. According to Coinglass data, derivatives market volumes have exceeded $10 billion in the past 24 hours – a clear sign of heightened interest. 📈 Funding rates also show a dominance of long positions, with traders willing to pay more to keep their bullish bets open.
Summary:
While Dogecoin is currently showing short-term volatility, the bullish camp remains steadfast. If history from November 2024 repeats, we could see a massive 275% rally and a new all-time high.
#Dogecoin , #DOGE , #memecoin , #CryptoMarket , #CryptoNews
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