Dogecoin's price fluctuates wildly, and investors experience a day trip between 'heaven and hell'!
Recently, Dogecoin's price skyrocketed, and everyone thought it could set a new historical high, but suddenly it cooled down within 24 hours.
Last week, Dogecoin's price surged by more than 20%, but yesterday it dropped by 5% in a flash. Now, one Dogecoin is selling for $0.422, ranking seventh in cryptocurrencies.
Looking at the trading volume, it also fell by 15%. However, sometimes a price drop with reduced trading volume may be a sign of a rebound. But right now, people's confidence in Dogecoin is somewhat shaken, and more and more are looking bearish.
There's an interesting phenomenon where the open contracts drop along with the price, indicating that the trend may be about to reverse. However, the funding rate is rising, which suggests that those trading derivatives are buying Dogecoin at a discount.
From the daily chart, Dogecoin is trying to break through the resistance level. If it gets past that, it won't be far from a historical high.
That said, even if Dogecoin breaks the record, it doesn't mean it will keep rising. If one day the price plummets, it could drop back to $0.367.
Moreover, Dogecoin reaching new highs may not happen so quickly, as the fear and greed index in the market has reached 'extreme greed', which often indicates the market needs to adjust.
Therefore, this cryptocurrency market is truly unpredictable, and anything can happen. We must remain calm and not act impulsively.
Currently, I have identified a potential dark horse coin that is about to soar, with confirmed good news, and I'm preparing to pump it. We plan to make a contract to catch a wave; I will announce the specific big moves internally. Click on my avatar to find me, look for bamboo leaves, and I will share directly.
