Can Dogecoin continue its legend? Market sentiment and whale movements are the key!
Recently, DOGE has become popular! In the past few days, Dogecoin whales have been buying Dogecoin crazily, and the number has increased from tens of millions to nearly 500 million, almost a thousand times!
Once these whales make a move, the price of Dogecoin is like a roller coaster, up and down. After all, most of the Dogecoins are in the hands of these big players, and the price has to move with their buying and selling. Moreover, most people who buy Dogecoin now make money, only a small part is still losing money, and a few people are neither making money nor losing money.
So why are these whales buying Dogecoin so crazily? I guess it has something to do with Musk. As you know, Musk is a fan of Dogecoin and always says that he is the "father of Dogecoin." He just says a few words and the price of Dogecoin can fly up. This time he came out to say it again, and the whales may think this is a good opportunity, so they quickly stock up.
Let's talk about the market situation. Now the inflation in the United States is not as serious as everyone thinks, and the Federal Reserve has also begun to cut interest rates. These two pieces of news are good news for the cryptocurrency market and may cause the market to rebound. The interest rate cut means that money becomes cheaper, and people are more willing to buy something with higher risks, such as cryptocurrency.
However, although Dogecoin seems to be very popular now, some people think it may have to fall. The price of Dogecoin may stabilize first, and then it may fall to around $0.087 by the end of the month. I think the price of Dogecoin will consolidate first and then adjust.
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