DOGE: Insights and Forecast
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Before diving into this, take your time to read it fullyâthis post is detailed, not just a quick overview. (Not for beginners!)
This is my first post about DOGE since the coin has often been overhyped. However, since October 26th, DOGE has seen a remarkable 28% rise in just five daysâthis is no small feat.
The Elon Musk & Trump Factor:
Recently, Elon Musk mentioned that if Trump wins the upcoming election, they plan to establish a dedicated DOGE department. Yes, you read that correctly! Imagine it like a government ministry, but specifically for DOGE, signaling deeper cooperation.
DOGE's Technical Advantage:
DOGE is already endorsed by Elon Musk and has a significant technical edgeâconfirming around 33 transactions per second compared to Bitcoinâs 7 transactions per second. This makes DOGE relatively safer for long-term or swing trading compared to other meme coins.
Technical Levels to Watch:
1. Key Resistance Level:
If DOGE resists above $0.1823 for at least one trading session, we could see a potential rise to $0.2802.
2. Take-Profit Points:
- First TP at $0.2235; then consider buying again at a lower level.
3. Support Levels:
- Local technical support at $0.1702
- Major support at $0.1542
Bonus Tip:
If DOGE breaks the major support level and fails to recover within 45 minutes, avoid buying. In this case, we may see it drop to the lower end of the range. I'll update you on these levels regularly.
Remember, this analysis considers the whole monthâs potential moves. Expect pullbacks, recoveries, crashes, pumps, and dumpsâtrade carefully according to the levels provided.
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Thank you for your support! Trade safe.
