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$DOGE
Elon Musk is really a guy that people both love and hate. He changed the department's name to DOGE, which instantly pumped up the dog coin, and everyone got excited. The trading volume of DOGE has increased, but there are a lot of sell orders, accounting for 65%, which indicates that many people are cashing out at high prices. If the buyers can't keep up, it might drop.
Previously, everyone was hoping that the Starlink launch would give DOGE a boost, but it didn't rise at all. It seems that the celebrity effect isn't effective anymore; the market is increasingly valuing tangible things.
Regarding the future trend of DOGE, some people feel the risk is too great and are hesitant to increase their positions or hold; while others believe Musk's influence is still present and there is room for growth. These two viewpoints actually reflect people's confusion over the uncertainty in the market.
To be honest, we should calm down first and not let the market fluctuations cloud our judgment. We need to set a profit and stop-loss point for ourselves; for example, in short-term trading, if we have made enough profit, we should sell around $0.4, and if it drops to around $0.35, we should stop-loss.
Additionally, you should pay more attention to external news, especially what Musk is doing and any new policies, as these could impact the market trends.
Elon Musk is really a guy that people both love and hate. He changed the department's name to DOGE, which instantly pumped up the dog coin, and everyone got excited. The trading volume of DOGE has increased, but there are a lot of sell orders, accounting for 65%, which indicates that many people are cashing out at high prices. If the buyers can't keep up, it might drop.
Previously, everyone was hoping that the Starlink launch would give DOGE a boost, but it didn't rise at all. It seems that the celebrity effect isn't effective anymore; the market is increasingly valuing tangible things.
Regarding the future trend of DOGE, some people feel the risk is too great and are hesitant to increase their positions or hold; while others believe Musk's influence is still present and there is room for growth. These two viewpoints actually reflect people's confusion over the uncertainty in the market.
To be honest, we should calm down first and not let the market fluctuations cloud our judgment. We need to set a profit and stop-loss point for ourselves; for example, in short-term trading, if we have made enough profit, we should sell around $0.4, and if it drops to around $0.35, we should stop-loss.
Additionally, you should pay more attention to external news, especially what Musk is doing and any new policies, as these could impact the market trends.
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China may revive digital asset market
Trump’s support for cryptocurrencies could push China to revive its digital asset market.
This is what Dr. Xiao, chairman of the Hong Kong compliant exchange Hashkey, said. Everyone knows that Xiao is quite authoritative in the field of encryption. He mentioned this point of view in an interview with the media on November 14, mainly for two reasons.
First, if the U.S. Congress and the incoming President Trump clarify cryptocurrency policies, continue to legislate and promote the development of the crypto industry, this will definitely become a driving force for China to accept cryptocurrencies. In other words, if the United States fulfills Trump’s promise and strongly supports the crypto industry, then as the U.S. Congress’s compliance development in the United States is rapidly popularized around the world, it may force our country to slowly change its existing cryptocurrency policies.
This is what Dr. Xiao, chairman of the Hong Kong compliant exchange Hashkey, said. Everyone knows that Xiao is quite authoritative in the field of encryption. He mentioned this point of view in an interview with the media on November 14, mainly for two reasons.
First, if the U.S. Congress and the incoming President Trump clarify cryptocurrency policies, continue to legislate and promote the development of the crypto industry, this will definitely become a driving force for China to accept cryptocurrencies. In other words, if the United States fulfills Trump’s promise and strongly supports the crypto industry, then as the U.S. Congress’s compliance development in the United States is rapidly popularized around the world, it may force our country to slowly change its existing cryptocurrency policies.