$DOGE Is there still an opportunity for memecoins in the future?

Memecoins have gained popularity among investors this year due to their entertainment value and high FOMO. In this article, we will explain using doge, a relatively representative coin.

Doge: To conclude, I personally believe there is still an expectation of a 2-3 times increase. As the leading memecoin, doge has a large market cap and low utility. Coupled with the recent sharp drop in BTC, it has been fluctuating between 0.31 and 0.34. However, with Trump's inauguration around January 20 and Musk's support, there is still a reasonable expectation for growth. This phase is estimated to at least stabilize at the key psychological price level of 0.5. So, will the recent low point of 0.26 be broken again? Personally, I don't think so. First, the Fibonacci retracement around 0.41 is roughly at 0.26, and this key support level has maintained a certain distance during every pullback after the sharp drop. Secondly, the recent fluctuations have been moderate, and there has been a slight increase around 9 o'clock in the East 8 time zone, indicating the possibility of breaking through the resistance level at 0.34. Overall, if doge pulls back below 0.31 in the near term, it would be relatively safe to go long with 5-10 times leverage, but it is crucial to pay attention to the mutual conversion of breakout pressure and support levels, which I mentioned in my previous article.

Actually, I also want to talk about pepe. I paid attention to this coin when it was around 17 (the unit varies, and I won't elaborate further). Interestingly, Musk changed his Twitter profile picture to pepe, and after a slight increase, he changed it back to his own avatar. Does this action signal an upward trend for pepe? It is quite possible! From what we see now, pepe has a relatively low coin value but a high market cap, which essentially tells us that it is hot but lacks high utility, and it is subject to high FOMO. Its advantage over doge lies in its relatively limited issuance, smaller price increase, and more recent issuance. However, this does not mean it will necessarily become a leading memecoin like doge. If it pulls back to below 18.5 recently, consider small leverage to go long, targeting around 25.

The above only represents personal views and does not constitute any investment advice!