Musk's 'New Strategy' with DOGE: Unpredictable Fortune?

Musk has implemented a strange strategy, renaming a department to 'DOGE', instantly igniting the market and causing a surge in Dogecoin trading volume.

However, market data indicates that about 65% of sell orders are taking profits, with many investors cashing out at high positions. If the upward momentum cannot be sustained, the price of DOGE may face a correction.

Meanwhile, although the Starlink launch was once highly anticipated and seen as a positive factor, it has not substantially boosted the price of DOGE. This shows that the market is increasingly valuing the real worth of crypto assets, no longer solely relying on celebrity effects to drive trends.

Two Voices in the Market

Currently, there is a clear divide in the market. Some investors are taking a wait-and-see approach due to perceived high risks; others still trust Musk's influence and hope for a rebound in the price of DOGE.

Short-term Operation Key Points

1. Goal Setting: In the short term, consider taking profits around $0.40; if it falls below $0.35, decisively cut losses.

2. Monitor External Factors: Keep a close eye on Musk's dynamics and relevant policy changes, especially any news that directly impacts DOGE.

3. Rational Choices: Avoid blindly chasing highs and make judgments based on market signals.

Conclusion

Though short-term market sentiment seems optimistic, overall uncertainty still exists. Investors need to stay calm, keep up with information, and avoid impulsive actions due to short-term fluctuations.

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