Dogecoin Mirrors AMD’s Setup From Last Year, Analyst Claims

Dogecoin’s pullback is starting to look like a setup, not a breakdown, at least according to crypto analyst Cantonese Cat (@cantonmeow), who says the meme coin is behaving the way AMD did before its turn higher last year. Can Dogecoin Replicate The AMD Rally? In a X post on Dec. 31, the analyst argued that slipping prices on weakening volume and growing public reluctance to be bullish is exactly what improves the trade’s risk/reward. “I said that about AMD last year. I’m saying that about DOGE right now,” Cantonese Cat wrote. “The lower price goes down on low volume. The more worried influencers are to publicly be bullish on it. The less people care about this. The better risk-reward ratio there is.” The Dec. 31 chart is built around Fibonacci retracement levels mapp...