Doge…Still Going? 🤷

by

Markets

A Most Peculiar Situation

  • The Dogecoin, it seems, wiggles. It rises, ever so slightly, between twenty-one and three-quarters of a cent and twenty-two and a tenth. A paltry dance, really.
  • No grand pronouncements, no revelations from on high. Only the ebb and flow of…orders. One wonders if anyone truly *knows* what they are doing.
  • They speak of a ‘close’ above twenty-two and a tenth. As if a mere number could dictate fate. Such optimism! 😂

This Dogecoin, it performs a restrained ascent, a timid climb within the confines of a few cents. Buyers, those eternally hopeful souls, cling to the twenty-one and three-quarters cent mark as if their fortunes depend on it. And the sellers, predictably, lurk around twenty-two and a tenth. A rather tedious spectacle, wouldn’t you agree? Momentum flickers briefly, a dying ember, then fades… leaving the price suspended, yearning for a resistance it may never breach.

Regarding Recent Events (Or Lack Thereof)

  • No news of significance, naturally. Just the usual anxieties surrounding supply and demand. One suspects it’s all rather arbitrary.
  • Whispers of “all-time highs” and fanciful ETF proposals have been… dismissed. Sensible, I think. Better to focus on what one can actually *see*, and what one sees is… not much.
  • The other ‘meme coins’ are creating their own little dramas, a chorus of pointless fluctuations. It’s all quite exhausting.

A Summary of the Tedium

  • The price moved, if one could call it that, between eight and ten mils. A swing of three or four percent. Such extravagance!
  • There was a brief dip toward twenty-one and three-quarters, but the buyers, ever the optimists, intervened. A rather predictable V-shaped recovery.
  • Attempts to rise above twenty-two proved futile. Repeated rejections. The market, it seems, is a cruel mistress.
  • The closing hour brought a distinct waning of… enthusiasm. Price settled, rather forlornly, beneath the resistance.

Technical Considerations (for Those Inclined to Worry)

  • Support exists at twenty-one and three-quarters. Though, what support truly *means* in this context is anyone’s guess.
  • Resistance lingers around twenty-two and a tenth. A psychological barrier, perhaps? Or just a number.
  • The RSI is… unremarkable. Neutral, they say. As if neutrality is a virtue.
  • The MACD is converging. A sign of what, precisely? Who knows.
  • It continues to drift sideways, under twenty-two. 😒 A breakout? Unlikely.

What the Traders Watch (and Worry About)

  • Will it close above twenty-two and a tenth, with sufficient volume? A purely academic question, I assure you.
  • The depth of the buying at twenty-one and three-quarters. Will they continue to throw good money after bad?
  • If a breakout *does* occur, will it be a genuine surge or merely a fleeting illusion?
  • They speak of ‘derivatives’ and ‘funding rates.’ A language I, thankfully, do not understand.
  • And, of course, the eternal dependence on Bitcoin. A puppet show, really.

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2025-09-08 08:51