🚨 What will happen to Dogecoin (DOGE) in the future if Musk "lets go"? 🐶💔
1️. With Musk's support weakening, could DOGE fall into a "price abyss"?
Elon Musk's support for Dogecoin has always been a crucial pillar of its market value. However, if he reduces his support for DOGE, the price may experience significant fluctuations, possibly dropping into a range of 40%-60% ($0.123-$0.22). If key support is breached, it could plummet to $0.0098 at worst 😱.
2️. Can DOGE become the payment star of the X platform?
Although Musk is working hard to achieve full regulation for X Payments, progress has not been smooth. If it successfully launches, whether DOGE can serve as the primary payment currency remains in doubt due to its inflationary nature, which may reduce its usage potential.
3️. Market pressure vs investment opportunity
Recently, DOGE has fallen over 13%, breaking through the key support level of $0.35, hitting a low of $0.30. From the RSI (17.67) indicating an oversold condition, there may be short-term opportunities for buyers to bottom-fish and rebound, but the overall market risk cannot be ignored. 📉
💡 Opinion: Risks and opportunities coexist!
The future price of DOGE largely depends on market consensus and technical support. If Musk gradually "lets go", investors need to view the situation rationally, avoiding blind chasing of highs while also looking out for potential oversold rebound opportunities!
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