Musk participates in the US government project $DOGE
Helping to stimulate resistance target $0.5.
Analysts pointed out that the current resistance level for Dogecoin is $0.44, and its price is expected to move towards $0.5, but if the price breaks below the key support level of $0.29, it may trigger further pullbacks.
DOGE's recent price has pulled back 15% from the three-year high of $0.44 set on November 12, and then steadily rebounded to $0.4. On-chain data analysis shows that selling pressure has decreased by 95%, and long-term holders have significantly reduced selling, providing momentum for price rebound.
The announcement of Musk's participation in the government project DOGE by Trump further stimulated market optimism towards DOGE. However, investors should also pay attention to potential risks. Although current selling pressure has decreased, market volatility may still impact prices, as seen today when the entire market fluctuated, causing DOGE to fall, especially at the key support level of $0.29.
Every pullback is an opportunity to enter the market. The bull market has entered its second phase, and the overall market still shows a bullish trend. If you're unsure about the entry position, comment, like, and follow me to help you find the bottom to enter. #比特币盘整分析 #ETH市场新动向 #币安HODLerTHE
