Chen Pokong's view on DOGE: Multiple key signals collectively declare "the bulls are dead"

Chen Pokong’s latest view is very clear: Dogecoin (DOGE) has moved out of a pure bearish trap, with multiple technical indicators signaling the same message—the turning point from a sell-off to a rebound has arrived. The previous extreme plunge to $0.09461 was the final surge of bearish volume, and since then, the price action has begun telling a completely different story.

Candlestick Patterns: From Extreme Selling to V-Shaped Recovery

The first piece of evidence Chen Pokong observed is in the candlestick charts. Previously, consecutive large bearish candles represented strong bearish attacks, but after the price dropped to the extreme low of $0.09461, a reversal occurred—next candlestick immediately showed a clear long lower shadow (commonly called a “hammer” in the industry). What does this indicate? It shows strong buying support below, and the bears are no longer able to push the price down further. Subsequently, a series of bullish candles rebounded to reclaim the ground, forming a classic V-shaped recovery after a sharp decline. This is the most direct candlestick signal from the bearish extreme to bullish takeover.

Moving Averages: Short-term Turning Point, Power Shift Has Begun

The second layer of confirmation comes from the direction change in the moving average system. Previously, the MA7 (short-term moving average) and MA25 were in a downward divergence, indicating a bearish alignment. Now, this pattern has changed—price has risen back above MA7, and more importantly, MA7 itself has started to flatten and turn upward gradually. Although on a larger scale, the price remains below MA99 (indicating the long-term trend still faces pressure), the short-term power shift is clear: from a one-sided downtrend to a rebound and consolidation structure.

Volume and Capital Flows: Who Is Quietly Accumulating?

Next, look at the story told by volume. The candle that plunged to $0.09461 was accompanied by a significant increase in volume—this was the final frantic capitulation of the bears, typical panic selling. But during the rebound, volume has been steadily increasing. This is not silent passive decline; it indicates genuine funds actively buying and supporting the price. This detail is crucial: volume has shifted from large panic selling to gentle but sustained active accumulation, suggesting that investors have sensed a low point and are starting to position for a rally.

MACD Indicator: The Final Confirmation of Bullish Momentum

The fourth and most critical layer of confirmation comes from MACD. Previously, DIF and DEA lines were deeply below zero, with a strong death cross and expanding green bars—classic bearish trend signals. But from the $0.09461 low, MACD has completed a golden cross below zero, with green bars halting their decline and beginning to turn red, while the bars are gradually enlarging. What does this mean? Bullish momentum is replacing bearish momentum. This is the most common and reliable confirmation signal for a wave “shifting from shorting to longing.”

Chen Pokong’s core judgment is simple: these four technical dimensions (candlestick patterns, moving averages, volume, MACD) are all pointing in the same direction—the bearish force has exhausted, and bulls are starting to take control of the market. When technical indicators resonate together, the confirmation of a trend reversal is greatly strengthened. From the current price of around $0.09, DOGE has already broken out of the pure bearish trap.