Key dishes to remember
DOGE leads trade at high risk and a high reward with a return on investment at 35%, an open interest in ATH and its own configuration for an $ 0.30 escape.
DOGECOIN (DOGE) finally flexes its meme force against high capitalization alts. Support for this change is the DOGE / ETH ratio. It has increased 25% up to date in the support area of 0.000049.
In fact, this marked the first level of the resistance level of 0.000060 from the ventilation of Q1.
So what was the result? Well, DOGE delivered a monthly return on investment of 35% compared to 6.18% of Ethereum (ETH).
TThe hat is about 5 × the gains, marking a level of outperformance not seen since the rotation of the elections.
Electoral cycle echoes
Source: tradingView (Doge / ETH)
In fact, the DOGE / ETH ratio brought together a similar support.
Back during the electoral cycle, Dogecoin closed in November with an increase of 160.83% to a three -year summit of $ 0.48, while Ethereum remained 48% retained, as was the Doge / ETH ratio tore off 78% reduction on the support of 0.000047.
Why is it important?
Because at the time of the press, the techniques were queuing, suggesting that the climb of Doge is not a stroke of luck. Instead, the capital had turned into the same, with Dogecoin leading the pack and keeping the altcoins sidelined.
Speculative flows enter a critical test area
The same market was at a key inflection point.
The increase in September was transported by speculative flows, with almost $ 20 billion flourishing and pushing total market capitalization to a two months higher of $ 83.12 billion.
But the real test comes into play now.
In the July race, the market capped $ 85 billion, online with the $ 0.28 resistance from DOGE. This peak came while more than $ 30 billion turned into the assets of the same and that the RSI of Doge pushed profoundly in the exaggerated territory.
Source: CoinmarketCap
In short, the same market has overheated. EtcOpital not supported almost as fast as it has turned.
About 20 billion dollars bled in less than two weeks. The result? DOGE saw a dumping ground of almost 35% while the profits made exceeded $ 600 million.
The big question: do we look at a repeated configuration?
High -risk appetite points strongly on the edge of Doge
Dogecoin’s outperformance against the majors was fully exposed.
With a king of 35%, DOGE reached $ 0.29, setting up his first real blow to the resistance recovery of $ 0.30 since the first quarter. Therefore, the momentum heats up.
The profits made increased to $ 728 million to $ 0.28, the largest for lucrative wave since the electoral cycle. This has shown that the Hodlers have cashed as Doge Ground in the Resistance.
Source: Glassnode
However, some differences have stood out from past cycles.
Unlike the July race, Doge’s RSI did not exceed group 85, remaining away from the overheated “green zone”.
Translation: the momentum is not yet maximum, leaving room for extension before the exaggerated signals are involved.
In addition, with an open interest (OI) printing a new ATH and the Doge / ETH divergence confirming the relative force, the structure points to the increased continuation.
Consequently, a net break greater than $ 0.30 seems very likely.
