The Dogecoin market is changing rapidly, and institutional operations are as fast as lightning
On the morning of August 11, the Dogecoin market ushered in a short carnival. After breaking through two important resistance levels in succession, it soared at an almost crazy speed, with a rise of 5% in four hours, drawing an eye-catching positive line. However, this joy did not last too long. The sudden collapse of the Bitcoin market in the afternoon was like a sudden storm, sweeping the entire cryptocurrency market in an instant.
The Dogecoin dealers, with their usual caution and acumen, quickly captured this market signal. They knew that in such a highly interconnected market, any disturbance could trigger a chain reaction. Therefore, when Bitcoin began to fall, they chose to follow without hesitation, fearing that their assets would suffer any losses. This move directly led to the rapid decline of the price of Dogecoin and returned to below the previous resistance line.
This experience of Dogecoin once again confirmed its characteristics of "fast bull and fast bear". In this market, the speed and efficiency of the institutions' operations are astonishing. They can complete a market cycle in a very short time, showing a high level of professionalism and trading skills. For ordinary investors, facing such a rapidly changing market, keeping calm, rational analysis, and cautious operation may be the long-term solution. $DOGE
