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If you have Dogecoin, you must read this news!
Can Dogecoin rise to $0.5 in one go? Or will it usher in a series of declines?
Dogecoin is now in a strong momentum, reaching $0.44 in one go, which is the highest record in 4 years. However, the good news such as the election and the interest rate cut are over. Will the trend of Dogecoin take a sharp turn next? I already have an idea in my mind!
Those who bought Dogecoin futures have different thoughts every day. After Trump was elected on the 6th, the liquidation amount of Dogecoin added up to $6,383, of which shorts were $8,231 and longs were $5,161. Both sides were liquidated at almost the same time. This shows that the market is very chaotic now. As soon as the price rises, everyone is eager to cash out and leave.
Look at the technical indicator RSI again. It has exceeded 70, which means that Dogecoin has been bought a little too much. Although the price is still rising, the confidence that everyone thinks it will continue to rise may have diminished. In other words, there may not be as many people buying Dogecoin now as before, or the pressure to buy Dogecoin in the short term is not as great.
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