DOGE
DOGE has soared to 0.4, like a rocket taking off, which has made many people wonder: is it time to quickly withdraw from the market?
The current market seems to be a foggy mess, stirred up by many complex factors. Musk's actions are like a "double-edged sword"; by naming a department after DOGE, he instantly ignited the fuse for DOGE's price surge, exciting everyone.
However, this has also embroiled Musk in a vortex of controversy. Trump harbors hostility towards him, and Musk's layoffs and company reforms have strained his relationship with the government even further. If these conflicts continue to escalate, the market environment is bound to become increasingly complex and unpredictable.
In the spot market, although DOGE's trading volume has significantly increased, the sell orders account for as much as 65%, indicating a strong selling pressure. Clearly, some investors want to cash out while the price is high, which undoubtedly sounds an alarm for the market. If there aren't enough buyers to absorb the selling pressure, DOGE's price may face a significant drop.
Additionally, the highly anticipated Starlink launch was expected to boost prices, but instead, it disappointed the market greatly. This shows that the celebrity effect is gradually weakening, and the market is starting to consider various factors comprehensively. Going forward, the impact of such events on prices is likely not to be as substantial as it once was.
