$DOGE has really been on a roller coaster lately, dropping from a high of $0.437 to $0.3673, and now fluctuating around $0.4, leaving people feeling anxious.
Everyone is focused on the $0.4 mark, believing that if it can break through, Dogecoin might continue to rise towards $0.43. But if it can't get past that, it could drop again, possibly falling to $0.36 or even $0.34. Those who bought at the high of $0.4775 would face nearly a 30% loss if it drops to $0.34.
However, some people have confidence in Dogecoin, thinking it might linger around $0.4 for a while before suddenly surging towards $0.5. There are indeed some bullish signals in the market, and buyers are keeping their eyes peeled for a rebound opportunity.
Speaking of whether Dogecoin can rise to $2, some people are daring to dream! An analyst named Philip mentioned that Dogecoin might still be at the bottom of its price cycle, just like before, needing to linger before a big surge. Just look at 2016, it rose by 9000%, and in 2021, it was even more exaggerated, rising by 50000%! At this pace, reaching $2 isn't impossible, which would mean a thousandfold increase!
Other analysts are joining in, saying the current bullish sentiment in the market feels like Dogecoin is about to experience a massive breakout. Although it hasn't broken the historical high of $0.73 yet, many believe that the new historical high is just around the corner, possibly achievable next month or the month after!
In summary, Dogecoin is like a kite hanging in mid-air, whether it will rise higher or fall down, we must keep our eyes wide open to watch, as this thing is too thrilling!
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