Key Takeaways 

Why is Dogecoin gaining attention?

DOGE flashed a TD buy signal while defending $0.24 support, hinting at short-term recovery.

What levels should DOGE traders watch next?

DOGE faces $0.29 resistance; a breakout could target $0.50, while failure risks a retest of $0.21 support.

Dogecoin [DOGE] flashed a TD buy signal on the 23rd of September after heavy selling pressure drove the price lower. Such signals often appear near market bottoms and can precede reversals.

At the same time, DOGE defended its $0.24 support, giving traders a case for short-term recovery.

Market participants appear to be watching for confirmation as further buying pressure builds. 

Can consolidation inside the triangle lead to a breakout?

DOGE consolidated within an ascending triangle, with resistance near $0.29. Typically, such a structure points toward a potential bullish breakout if momentum builds. 

The pattern reflected higher lows forming against a static resistance, showing that buyers were gradually stepping in.

If DOGE broke above $0.29 with strong volume, the price could move toward $0.50. By contrast, rejection at resistance might trigger a retest of the support trendline near $0.21.

Stock-to-Flow ratio spikes 

An unusual development in Dogecoin’s metrics was the sharp surge in its Stock-to-Flow Ratio to 246, which signals tightening supply conditions. 

Historically, sudden jumps in this ratio often align with strong upward price movements as scarcity becomes more pronounced. 

Still, sudden spikes could be temporary anomalies and, of course, add another layer of bullish sentiment. And so, traders must carefully monitor whether the elevated r

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Author: Erastus Chami