Dogecoin has been very strong recently, but you have to be careful about it falling - what will happen next?
Dogecoin has been very popular recently. Other meme coins are standing still, but it is rushing up like a chicken blood. However, some data are not very impressive. If Dogecoin does not hold its current position, it may fall again.
Bitcoin is quite competitive and has reached $100,000 again, and the market is cheering again. Other currencies are not so lucky, but Dogecoin is still strong. Since the beginning of this year, it has been trying to climb above $0.4. Although there are big players operating in secret, it looks like there will be big moves, but the technical side shows that it may need to adjust.
Speaking of big players, those retail investors are watching them, thinking that once the big players move, the price will change. Big players have been buying and buying all year last year, and now they have more Dogecoin than during the bull market in 2021. Now, there are more than 5,000 wallets with more than a million Dogecoins, which is a great thing. It looks like a big rise.
However, retail investors are reluctant to enter the market, mainly because the technicals are not strong enough and there is no sign of a rise. There is an indicator that keeps saying there will be a pullback, and everyone's mood is not very high.
Looking at the price chart of Dogecoin, the bulls are still trying to hold it up and want it to continue to rise. However, the trading volume is a bit behind, and the rebound momentum has weakened. There is also an indicator that shows that there may be a pullback.
But then again, if Dogecoin can rush from the Fibonacci position of 0.786 to $0.4 in the next few hours, it may continue to rise. Maybe it can return to last year's high of $0.55, or even hit a new historical high of $1!
For the next layout direction, I will lead everyone to aim at the profit opportunities of copycats, especially those projects with great potential. There is no problem with the expected space of more than 10 times. If you want to make a lot of money in the bull market, like + leave a message, and I will lead you to layout the entire bull market!
