$DOGE
DOGE Follow-up Trend Analysis:
In the past couple of days, many friends have noticed that the popularity of DOGE seems to be declining. Will it not rise again? Today, let's briefly discuss the future of DOGE.
On November 4th, when Bitcoin was at 67,000, DOGE was only 0.15. After that, Bitcoin soared continuously, and DOGE closely followed without falling behind.
However, in the past couple of days, many friends have started to wonder why DOGE is not rising anymore. Are the whales selling? Are the market makers not pushing the price? Various doubts have come in succession! Many friends holding DOGE at high positions have also started to feel anxious!
Jinbao observes: DOGE has simply entered a consolidation phase. In terms of the increase, Bitcoin has risen nearly 45 points from November 4th to now, while DOGE has increased nearly 190 points! After such a long period of price increase, there must be a process of consolidation. Overall, DOGE's trend can be described as a wide range of box oscillation or a sideways market. It can also be considered as entering a small bottleneck period.
Currently, in terms of Bitcoin's trend, many altcoins, including DOGE, are not rising. On one hand, it is due to severe capital withdrawal; on the other hand, altcoins are hesitant to follow Bitcoin's new highs repeatedly because the capital inflow behind Bitcoin is not something altcoins can compare to. So what will happen to DOGE in the future? In fact, a large part still depends on Bitcoin. If this leader continues its current trend, altcoins will not rise. Only if the leader significantly corrects to the 80s and capital escapes, will altcoins receive capital inflow and continue to follow Bitcoin's rise!
This is the short-term view. In the long term, Jinbao still has a very positive outlook on DOGE! After all, "Dog Father" has been continuously nurturing DOGE and bringing good news to DOGE!
