Dogecoin Update and Market Analysis – Simple and Clear
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Dogecoin's performance last night was quite eventful. As Jinbao mentioned, after consolidating in the pressure zone, it broke through 0.479, spiked to 0.481, and then quickly pulled back. The price fluctuation was rapid, which may have caused some concern. In the short term, the market is likely to continue consolidating with ups and downs, so maintaining a consistent strategy is key.
Important Reminder:
Don’t rush into the market without a plan. If you hold spot Dogecoin, there’s no need to worry. Jinbao remains confident that 0.48 is just the beginning, not the peak.
Latest Development in Dogecoin:
Yesterday, Dogecoin and MyDoge wallet designer, DogeDesigner, announced on social media that Elon Musk’s Boring Company is now accepting Dogecoin for payments. You can even use Dogecoin to purchase cars. This news caused Dogecoin’s price to jump from $0.428 to $0.48 before pulling back. DogeDesigner, a close ally of Musk, has continued to push Dogecoin, and recently tweeted that Tesla will accept only Dogecoin for merchandise payments—not Bitcoin This shows how significant Dogecoin is becoming.
Jinbao remains optimistic about Dogecoin’s long-term potential.
Short-Term Market Analysis:
After Dogecoin found support at the daily level, the upper Bollinger band shows signs of retreat, and the moving averages (MA) are shrinking. On the 4-hour chart, after breaking the Bollinger upper band, Dogecoin spiked to daily resistance, then pulled back to support around 0.420. The MACD is showing a dead cross, and MA is shrinking. On the 1-hour chart, after breaking the middle Bollinger band, Dogecoin has been consolidating sideways around 0.432.
Short-Term Trading Advice:
Consider buying at 0.413-0.410, setting a stop loss near 0.405, with a target range of 0.447-0.460.
For those feeling unsure or missing opportunities, remember:
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