Is DOGE replicating the madness from June?

Tesla has just approved a $1 trillion compensation package for Musk, and the crypto community is once again chanting the incantation of DOGE. Looking at the charts now, the trend of DOGE has an 87% similarity to the wave from June to July — at that time, it directly exploded from the $0.1569 range, soaring by a solid 101%.

From a technical perspective, DOGE is currently at $0.1666, with an RSI of only 36, indicating it has not yet entered the oversold territory. The green demand zone is firmly defended between $0.1569 and $0.1662, while resistance is at $0.2242 and $0.2711. If history repeats itself, the target price of 101% is $0.3068 — a surge before the end of the year is not a pipe dream.

But here’s the key: can Musk's "halo effect" really drive retail investors to FOMO in? Every time he posts a rocket meme in the past, it has been able to pump the market, but if this time the $1 trillion big news doesn't generate enough buying interest, then no matter how good the technicals look, it will be in vain.

Currently, it seems that the dual catalysts (technical bottom + sentiment recovery) are in place, but don't forget the core logic of meme coins - it's just an emotional game, and when the wind changes, it can reverse in an instant.