Dogecoin begins the new trading week in an unusually precarious spot on its higher‑time‑frame chart: technically triumphant, yet visibly stretched. A cluster of weekly studies shared by pseudonymous market technician Cantonese Cat shows the meme‑coin pressing into resistance after an abrupt two‑week rally that added roughly 80 percent from the June lows. The analyst cautions that the move, though structurally bullish, may require a brief pullback to consolidate before further gains.

Dogecoin Overextended?

On the logarithmic Fibonacci retracement drawn across the 2024–25 range, last week’s candle managed to close marginally above the 0.618 level at $0.262 — a zone that has capped every breakout attempt since January. The close was technically significant: in classical market geometry, recapturing the 61.8 percent retrace often signals a transition from recovery to trend expansion.

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“It broke above the 0.618 log fib which can use a bullish back‑test,” Cantonese Cat observed, adding that a return to that same area “would flush back down to back‑test” the double‑bottom that formed around $0.15 earlier in the quarter.

The Bollinger‑Band panel underscores the risk of near‑term mean‑reversion. Dogecoin’s weekly close at $0.267 is the first in eleven months to settle outside the upper band, which currently sits near $0.262. Such closes are rare on a high‑time‑frame chart and are typically followed by at least one candle that re‑enters the bands.

“It’s above the Bollinger band,” the analyst notes. Historically, Dogecoin has struggled to maintain altitude when that spread becomes extreme, often retreating to the middle band — now near $0.19 — or, in stronger cycles, to the upper band itself on the subsequent week.

The Ichimoku snapshot tells a similar story of progress meeting inertia. Price has vaulted both the conversion line (Tenkan‑sen) and the baseline (Kijun‑sen), confirming bullish momentum on those metrics, but remains pinned beneath the underside of the weekly cloud. The Senkō Span B that defines that lower cloud boundary sits around $0.28–$0.29, almost exactly where Dogecoin stalled on the final trading day of last week.

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Cantonese Cat labels that area “Ichimoku cloud resistance” and warns that until a decisive close pierces the cloud, the level should be treated as supply. A brief dip, therefore, would allow the Kijun‑sen (roughly $0.23) and the 0.618 Fibonacci level to compress into a confluence that could provide the next higher low.

Supporting that idea is the supply‑demand band highlighted in grey on the fourth chart. It spans approximately $0.24 to $0.25 and corresponds to the base of February’s breakdown range. In chart‑pattern terms, the area acts as the neckline of the double‑bottom Cantonese Cat references.

A retracement into that former resistance‑turned‑support could satisfy both the Fibonacci back‑test requirement and the Bollinger re‑entry, while leaving the broader reversal structure intact. The analyst sketches exactly that path on the chart: a pullback into the grey zone, followed by a renewed advance toward the mid‑$0.30s.

Importantly, none of these observations undermine the longer‑term shift in market structure. The double‑bottom around $0.15 resolved higher in July with a weekly candle that engulfed eleven weeks of prior supply, signalling a change of control from sellers to buyers. The most recent candles, though smaller, have held every gain from that breakout. As the analyst summarizes: “Overall, these are very bullish developments, even if it dips down early this week to reset some technicals.”

At press time, DOGE traded at $0.277.

Featured image created with DALL.E, chart from TradingView.com

The sudden awakening of old Bitcoin (BTC) whale wallets may be linked to a hack, according to on-chain analysis by Coinbase director Conor Grogan. 

Posting on the social media platform X, Grogan makes several observations about last week’s sudden movement of whale wallets holding $8 billion in BTC after lying dormant for more than 14 years. 

Grogan notes that one of the wallets appears to have made a test transaction on the Bitcoin Cash (BCH) network just hours before the big move happened, suggesting that whoever was responsible for the transfer was trying to go unnoticed.

“There is a small possibility that the $8 billion in BTC that recently woke up were hacked or compromised private keys

I found a single BCH test transaction from one of the BTC whale clusters… followed by the full amount. An hour later, the BTC wallets began to move. 

There is a possibility that the owner was testing the private key in a way that wouldn’t get noticed, as BCH isn’t monitored heavily by whale-watching services

What makes me say this is the other BCH wallets have not been touched at all; why wouldn’t they also sweep these?

This is all extreme speculation, but the movements are extremely odd here. I do not think that this is an exchange wallet due to the BCH activity, and given the BTC transfers appear to be all manual.”

Bitcoin Cash is a hard fork of Bitcoin. Wallets that held BTC before the 2017 Bitcoin Cash fork may also hold the same amount of BCH.

Grogan appears to be suggesting that the BCH test transfer could have been the hacker’s way of checking whether they had access to the wallet before transferring the massive BTC stack.

The wallets in question first accumulated Bitcoin when BTC was trading at $0.78.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Institutional digital asset investment vehicles have enjoyed over $13 billion in inflows over the last nine weeks, according to leading global investment firm CoinShares.

In its latest Digital Asset Fund Flows Weekly Report, CoinShares finds that last week’s institutional digital asset inflows have risen compared to the numbers in previous weeks despite rising geopolitical uncertainty.

“Despite geopolitical concerns weighing on risk assets last week, digital assets remained resilient, attracting inflows alongside gold.

Digital asset investment products recorded US$1.9bn in inflows, marking the ninth consecutive week of inflows. This brings the total inflows during this run to US$12.9bn, while year-to-date (YTD) inflows have reached a new record of US$13.2bn.”

Regionally, the US led internationally with $1.9 billion in inflows. Germany, Switzerland and Canada followed with $39.2 million, $20.7 million and $12.1 million in inflows, respectively.

“In contrast, Hong Kong and Brazil experienced outflows of US$56.8m and US$8.5m, respectively.”

Following two consecutive weeks of outflows, flagship crypto Bitcoin (BTC) is back on top with $1.3 billion in inflows.

Leading smart contract platform Ethereum (ETH) has been on an eight-week inflow streak, totalling to $2 billion, adding $583 million in inflows last week.

“Following a 3-week run of outflows, XRP saw US$11.8m in inflows, while Sui saw a further US$3.5m inflows.”

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