The price is currently around 0.000423, basically above the short-term moving average, indicating that short-term funds are starting to become somewhat active.
However, it's too early to say the trend has reversed, as the 99-day moving average is still acting as resistance, and there's still some distance between it and the current price. Therefore, overall, it's still a weak rebound + bottoming structure.
My own intuitive view is:
If the price can hold above 0.00040 and gradually increase in volume, the market is likely to test the resistance zone around 0.00045-0.00050.
But if it suddenly breaks below 0.00039-0.00040, it means this rebound is just a technical correction, and the price may go back to test the bottom area around 0.00036.
In simpler terms:
At this current level, the major players are essentially assessing market sentiment.
If retail investors become active again, a single large bullish candle can often set the pace for MEME coin; however, if the market lacks momentum, it may continue to grind for time and accumulate shares. $1MBABYDOGE #meme




