Friends holding Dogecoin, pay attention to what I say!
Recently, there are 5.8 billion DOGE about to flood into the market, which has caused the price of DOGE to fall for three consecutive days. Fortunately, it has stabilized a bit now. However, the movement of these 5.8 billion DOGE has left everyone wondering: is this going to surge up, or will it continue to decline?
Let's first take a look at the market situation. Dogecoin has dropped nearly 20% from its high at the beginning of the month and is now hovering around $0.32. It’s not just Dogecoin; popular coins like Shiba Inu and Floki are also declining, and the entire market seems a bit cautious.
Next, let's talk about the investors. Some people feel they have made enough profit and start selling their Dogecoin, which creates a somewhat pessimistic market atmosphere. There’s something called the “Fear and Greed Index” that has dropped from 90 at the beginning of the year to 80, indicating that everyone is feeling uneasy.
From a technical perspective, Dogecoin's price is currently at a critical moment. The $0.34 level is a tough hurdle to overcome; however, if it drops below $0.28, it could get worse, potentially continuing to fall to as low as $0.26. On the other hand, if the price can break through the $0.34 barrier, Dogecoin may rebound, and the price could rise.
Looking ahead, in the short term, Dogecoin's price may still face some pressure, especially if it cannot break through the $0.34 threshold. If the price drops below $0.30, caution should be exercised as it may continue to drop towards $0.28.
Overall, the current situation of Dogecoin is a bit complex. Everyone needs to be more vigilant and see what impact this 5.8 billion DOGE will bring. We all need to proceed with caution!
As for the next layout direction, I will guide everyone to aim for the lucrative opportunities in altcoins, especially those with high potential projects. An expected growth of over 10 times is not a problem. If you want to make big money during the bull market, like + comment, and I’ll take you through the entire bull market!
