Many people ask about DOGE Dogecoin

Many brothers are trapped at positions above 0.4,

This position was also where many KOLs shouted to buy the dip for DOGE (the diamond hand community called it at 0.14) and now are generally trapped with losses of 25% to over 30%.

And now many people are asking, what should we do? Is there still a chance?

First of all, we need to understand why DOGE rose in the last wave?

The last wave of DOGE's rise had three factors,

The first was the overall upward trend in early November, driven by the larger market environment.

The second was Musk's announcements, coupled with the government efficiency department established by Musk, abbreviated as D.O.G.E, which drove the rise.

The third was cyclical; every year there are several waves of dogecoin seasons and meme seasons, the last wave was in March, with sector rotation.

What is the current situation?

The overall market environment is in a downward shake, Bitcoin is declining, and altcoins are also declining, so the first condition is not met.

Many people who have just been trapped still haven't cut their losses; we are now in a phase of digesting the bubble, and in the short term, Musk is unlikely to make another announcement. The second condition is also not really met.

So my personal view is that it is not very realistic for Dogecoin to return above 0.4 in the short term, as the market may rebound, but it's a bit difficult to help you break even all at once. My personal suggestion is to switch positions. Switch to leading coins in other sectors, or coins that are at the bottom with less upward movement. Switch to coins with star effects, in the same sector, that are of interest to the big players.