Many people ask about DOGE
Many brothers have been trapped above 0.4,
this position was also where many bloggers called the bottom for DOGE last time, and now they are generally trapped by more than 25% to 30%.
Now many people are asking, what to do? Is there still a chance?
First of all, we need to understand why it rose last time? What caused DOGE to rise?
The rise of DOGE last time had three factors,
The first was the overall upward trend in early November, with the macro environment driving the lift.
The second was Musk's calls, along with the establishment of the efficiency department by Musk, abbreviated as D.O.G.E, which drove the rise.
The third is seasonality; every year there are several waves of dog seasons and meme seasons. The last wave was still in March, with sector rotation.
Among these, I believe the first and second points are the most important and necessary conditions.
What is the current situation?
The overall macro environment is in a震荡下行, Bitcoin is in a downward trend, and altcoins are also in a downward trend, so the first condition is not met.
Recently, due to the hype, Musk has already called out, and the market has shown opportunities for vertical rises. Now many people have just been trapped and have not yet cut losses, and we are now in the stage of digesting bubbles. In the short term, Musk is unlikely to call out again. The second condition is also not very met.
The third cyclical overall decline raises the question of whether there will be sector rotation and whether rotation will drop.
Therefore, my personal view is that in the short term, it is not very realistic for DOGE to return above 0.4, because the market warming and rebound are very likely, but helping you release your position all at once is a bit difficult. My personal suggestion is to switch positions. Change to other leading coins in different sectors, switch to coins that are less volatile and at the bottom. Switch to coins that have star effects, in the same sector, that the big players are paying attention to.
