$DOGE Retail craze surges: Can it help break through the $1 mark?
DOGE has been extremely popular recently, with retail trading activities rising wildly, and everyone is rushing to buy! In this case, we have to call it the "retail investor frenzy period". But then again, every time retail investors are so crazy in history, Dogecoin tends to fall, such as in May 2024, January 2023, and May 2021.
This kind of frenzy, to put it bluntly, is the "fear of missing out" psychology at work, which may cause everyone to sell all at once and squeeze out the later talents. However, this decline may also be an opportunity. After the decline, it may usher in a big rise, or even set a new high.
The volatility of Dogecoin is inseparable from its meme-driven market characteristics. Once the emotions come up, the price changes like a rocket. Now that retail trading is so popular, it shows that everyone's interest in Dogecoin is great, and the future market trend is definitely worth looking forward to.
Looking at the trading volume, the trading volume of Dogecoin on all exchanges has reached a new high. In November 2024, the number was soaring, even more than in early 2021 and mid-2023. With a large trading volume, the price fluctuations will also be large. The price of DOGE is so up and down, which is exciting.
Especially in November, the number of transactions in the spot and futures markets has skyrocketed, and traders around the world are actively participating. The trading activity of Dogecoin is simply a symbol of the enthusiasm of the crypto community, and it may attract more attention and investment.
Speaking of price prediction, the FOMO psychology of retail investors may cause Dogecoin to fall again, but this is also an opportunity to attract more people to come in, and then rebound, and maybe it can break through the $1 mark.
Look at the price of DOGE on the four-hour chart, it is so volatile, and the trading volume also goes up and down. There have been two big increases, from $0.125 to $0.175, and then to $0.43, which is an amazing increase. Now RSI has reached the oversold area again, which is exactly the same as the situation before the previous big increases.
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