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- 📢 #Gate Square Writing Contest Phase 3# is officially kicks off!
🎮 This round focuses on: Yooldo Games (ESPORTS)
✍️ Share your unique insights and join promotional interactions. To be eligible for any reward, you must also participate in Gate’s Phase 286 Launchpool, CandyDrop, or Alpha activities!
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🎁 We’ll select 1 top post to win $50 Futures Voucher every Tuesday and Thursday!
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- 🎉 [Gate 30 Million Milestone] Share Your Gate Moment & Win Exclusive Gifts!
Gate has surpassed 30M users worldwide — not just a number, but a journey we've built together.
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Could Dogecoin (DOGE) be preparing for a big rise? Analyst shared current views!
Crypto analyst Joao Wedson shared a remarkable analysis about Dogecoin (DOGE) on social media. Wedson suggested that Dogecoin could be preparing for a significant rise, highlighting four key points based on historical data and market show.
According to Wedson, approximately $380 million in liquidity was trapped at the $0.50 level during the previous major decline of Dogecoin. The analyst argued that after such intense short accumulations in the past, DOGE has shown a strong rise after a consolidation process that spanned several months.
Wedson, who also touched on DOGE's performance against Bitcoin, stated that the pair is currently approaching the critical support level seen before the 2021 rally. According to Wedson, this situation may indicate a period where Dogecoin could attract more interest than Bitcoin again.
Wedson, who also looks at the overall health of the memecoin market, noted that the Memecoin Index, which consists of 16 major memecoins, has shown the first signs of recovery after a deep decline. This situation indicates that memecoins, including Dogecoin, may begin to attract interest again.
Although the memecoin market value is much larger compared to 2021, according to Wedson, the Open Position level is still low at ( approximately 3.2 billion dollars ). The daily trading volume is also only 12 billion dollars, which is far behind the levels of BTC or ETH.
*This is not investment advice.
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