Dogecoin: The Long-Term Rise Trend Has Not Been Broken, According to Analysis by Cantonese Cat

During a livestream on August 19, cryptocurrency analyst Cantonese Cat (@cantonmeow) expressed the view that Dogecoin (DOGE) is still maintaining the main rise trend on larger timeframes, despite short term fluctuations that have made many investors appear pessimistic. He emphasized: "Many people seem to be frustrated with Dogecoin, but in fact, it is still forming higher highs and higher lows. This is still an uptrend until proven otherwise." Signal From Larger Time Frame According to Cantonese Cat's analysis, Dogecoin is currently holding steady above important moving averages: MA 20 weeks and MA 20 months. He believes this is a typical feature of a main rise that remains intact. "I do not trade on a daily basis. I look at a larger time frame, and the overall structure is much more important than short term fluctuations," he said. Short Term Volatility: Accumulate in the Trend On the daily chart, DOGE is under pressure: The price is below the 20-day MA. It was rejected at the Ichimoku cloud a few weeks ago. Currently, it is "trying to hold steady at the Tenkan/Kijun back-test area" to accumulate energy for a new breakout. In addition, DOGE has just formed a double bottom ( – a sign that strong buying pressure is appearing at the support level. On X, Cantonese Cat wrote: "DOGE weekly: continuously back-testing Tenkan in Ichimoku, but is creating a higher low after the recent double bottom pattern." Market Psychology and Macro Context One of the notable points he emphasized is the timeframe bias )timeframe bias(. Many traders often focus too much on short term fluctuations while overlooking the higher lows structure that has formed from DOGE's previous cycle. Cantonese Cat believes that the sideways movement is just a "pause before resistance", not a sign of the trend ending. The main resistance zones currently include: Ichimoku Cloud. 20-day MA. The price levels that were previously rejected. Overview of the Altcoin Market He also placed the analysis of Dogecoin within the broader context of the altcoin market: OTHERS )market capitalization excluding Top 10(: just surpassed 0.5 Fibonacci but has not broken through 0.618, indicating the market is still accumulating.TOTAL3 )market capitalization excluding BTC & ETH(: the chart forms a beautiful "cup and handle" pattern, has surpassed 0.86 Fibonacci and is likely heading towards a new historical high. Cantonese Cat stated: “I cannot be bearish on the entire crypto market, especially when Ethereum has just broken above 0.86. The overall altcoin situation is still very positive.” Conclusion: The Main Trend Remains Bullish For Dogecoin, he sees the 20-week MA and the 20-month MA as the "main defensive line" of the uptrend. Meanwhile, the daily chart will be the "battlefield" where DOGE needs to break through the Ichimoku cloud and the short term resistance to reaffirm the upward momentum. Until these larger timeframe supports are broken, Cantonese Cat's view remains clear: "Dogecoin is still a bullish chart, until proven otherwise."