Dogecoin is about to surge: FOMO detonates, DOGE hits $1!
Retail investors are crazy about FOMO, and Dogecoin may fall again in the short term! Although Dogecoin's RSI has rebounded from the oversold zone on the 4-hour chart, the current market sentiment is extremely high, suggesting that the price may be about to pull back again.
This phenomenon is often called "too many retail investors". From historical experience, similar situations often indicate that Dogecoin will face a wave of price declines, just like in May 2024, January 2023, and May 2021.
Analysts interpret this wave of FOMO sentiment surge as a possible trigger for large-scale selling and market manipulation, especially for those investors who enter the market later. Therefore, market participants need to be vigilant and be ready to deal with the upcoming volatility!
However, this potential pullback may be a precursor to a sharp rebound in Dogecoin, and even pave the way for DOGE to set a new high!
Analysts say that in this volatile meme market, such cyclical fluctuations are very common, and emotional trading often leads to violent price fluctuations.
The current enthusiasm among retail investors shows that Dogecoin is at an all-time high and the market's attention to DOGE has reached a peak, which sets the stage for major market fluctuations in the coming months. A fierce upward trend may be just around the corner!
Dogecoin's trading volume on all exchanges has reached a new high, setting a new historical record in November 2024!
This surge in trading activity highlights the market's strong interest in the meme cryptocurrency, even exceeding the peaks in early 2021 and mid-2023.
The explosion in trading volume coincides with the increase in price fluctuations, showing a significant increase in investor participation.
