Doge to the Moon?! 🚀Or Just Another Walkies?

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Right, so apparently Kevin (@Kev_Capital_TA), who I’m assuming knows more about squiggly lines than I do (which, let’s face it, isn’t saying much), has drawn a chart. It’s got this Global Liquidity Index thingy (yellow, like a banana 🍌) doing its thing on top of Dogecoin‘s price (purple candlesticks, because why not?). Apparently, they’re like, totally in sync. Or something. 🤷‍♀️

Dogecoin Drama: Will Liquidity Save Us All? (Probably Not)

So, the Global Liquidity Index (try saying that after a bottle of Chardonnay 🍷) has been sliding down a slippery slope, marked by orange circles (because circles are fun!), while Dogecoin, bless its cotton socks, has broken out of a long-term trend line. This trend line apparently dates back to its, shall we say, *exuberant* phase in 2021. Remember that? Good times. Or terrifying times. Depending on your portfolio. 😬

The chart shows Dogecoin’s wild ride from practically nothing to almost a dollar (well, $0.74, but close enough!), before plummeting back down to a level that’s supposedly “significant support” around $0.15. Kevin’s added a “Fib retracement overlay” (sounds like something you’d get at a spa, doesn’t it?) which highlights $0.14225 as a crucial area. Apparently, the current price is hovering around this magical spot where the trend line meets the Fib thingy. Fingers crossed it does something exciting! 🙏

Meanwhile, the Global Liquidity Index (still trying to say it) is doing its own downward spiral, suggesting there’s less money swilling around. Each time it hits the bottom of its little channel, Dogecoin does something dramatic. Coincidence? I think not! (Or maybe it is. I’m not an expert. 🙄)

These “circular markers” (circles again!) highlight moments where liquidity dipped and Dogecoin went all wobbly. Kevin reckons this means we should pay attention because it might mean a rebound. If liquidity rises, that is. Which it might not. Who knows? 🤷‍♀️

Why does this Global Liquidity Index even matter to Dogecoin? Apparently, high liquidity means more money for risky things like memecoins. Which makes sense, I suppose. When it goes down, it means things are tighter. Like my jeans after Christmas. 😩

Dogecoin’s most bonkers moments (like that 2021 rally) happened when liquidity was flowing freely. So, basically, it’s all about the money, honey. 💸

Kevin’s chart doesn’t promise anything (because nothing ever does, does it?), but it highlights a spot where Dogecoin’s support lines, Fib levels, and the bottom of the liquidity channel all meet. Will it cause a rally? Maybe. Will I understand it? Probably not. But I’ll keep an eye on that Global Liquidity Index, just in case. 👀

Right now, DOGE is trading at $0.15723. So, you know, there’s that. 🤷‍♀️

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2025-04-11 16:19