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DOGE Price Eyes Breakout Amid Rising S2F and Buy Signals
Dogecoin [DOGE] flashed a TD Sequential buy signal on September 23, following a wave of selling pressure that dragged prices lower. These signals often appear near local bottoms, hinting at possible trend reversals. At the same time, DOGE defended its $0.24 support level—strengthening the case for a short-term bounce.
Consolidation Within Triangle Could Precede Breakout
DOGE is currently consolidating within an ascending triangle pattern, with horizontal resistance near $0.29. This structure, marked by higher lows against a flat ceiling, often signals mounting buyer pressure. If the price breaks above $0.29 with strong volume, the token could rally toward the $0.50 level. However, failure to do so might lead to a pullback toward the support trendline near $0.21.
Stock-to-Flow Ratio Suggests Tightening Supply
One notable development is the spike in DOGE’s Stock-to-Flow (S2F) ratio, which surged to 246. Historically, sharp rises in this metric “often align with strong upward price movements” due to perceived scarcity. Still, traders should remain cautious—“sudden spikes could be anomalies,” and only a sustained increase would truly support a medium-term bullish outlook.
Funding Rates Support Bullish Structure
Despite recent volatility, Binance Funding Rates for DOGE stayed positive at 0.002%, suggesting that traders continue to lean long. While this reflects confidence, it also poses a risk of sharp corrections if momentum fades and long positions become overcrowded.
In summary, Dogecoin is showing signs of strength with the TD buy signal, positive Funding Rates, and a rising S2F ratio. The $0.29 resistance remains critical—“a breakout could open the path toward $0.50,” but rejection may see DOGE fall back to test $0.21 support.
