🚨【Market correction and DOGE bucking the trend】🚨
The crypto market experienced a correction yesterday, with Bitcoin falling to $85,000, ETH falling back to $3,200, and altcoins generally seeing losses of about 10%.
However, DOGE, BONK, ACT, etc. among MEME coins have shown a trend of rising against the trend, and their performance is extremely strong!
🔹 Reasons for DOGE’s rise
Trump announced the appointment of Musk as Minister of Government Efficiency, and the abbreviation of this ministerial position happens to be "DOGE"!
As soon as the news was announced, the price of the D.O.G.E coin exceeded $0.34, an increase of more than 100%. The market is full of expectations for Trump and Musk to join forces, and the related MEME currency is also expected to continue to strengthen.
🔹 Factors for short-term market correction
FOMO is too high: Coinbase returns to No. 2 on the Apple App Store’s free app rankings, Bitcoin searches peak, and market sentiment becomes too aggressive.
Ethereum Foundation sells coins: Although the amount sold each time is not large, each currency sale will have a correction effect on the market.
The scale of liquidation was huge: more than $1 billion in long positions were liquidated, and the market needed to clear leverage, which made short-term volatility more intense.
🔹 Long-term bullish signal
Although the market has corrected in the short term, the policies pursued by Trump and his Bitcoin supporters have been extremely beneficial to the crypto market.
Markets are expected to continue rising ahead of Trump's inauguration on January 20, with Bitcoin and Ethereum exchange-traded funds (ETFs) in particular showing strong performance.
🔹 Investors continue to increase their holdings
U.S. online commodity ETFs have continued to increase their holdings of pie and ether, and the buying behavior of large institutions such as BlackRock and Fidelity shows that the market is still optimistic about the long-term development prospects of crypto assets. The public account of the residence: Yunzi Commune, free and beautiful skirts
A short-term pullback will not change the long-term upward trend.
Investors should be patient and hold cryptocurrencies to catch the main rise!
As long as there are no major surprises, the market is expected to continue rising before Trump takes office.
If there is a sharp correction, consider buying on dips!
