$DOGE skyrocketed, is this the last carnival or a chance to escape?
Recently, the price of DOGE soared to $0.42, and some people are wondering if this is the last chance to escape. The market is also baffling due to a host of complex factors.
Elon Musk is truly a double-edged sword. Naming the department DOGE has instantly driven up the price, and everyone is excited. But this has also made him the center of controversy; Trump isn't very friendly towards him, and with Musk's layoffs and company reforms, his relationship with the government may have worsened. If these conflicts continue, the market environment could become much more complicated.
In the spot market, DOGE's trading volume has recently surged, but there are particularly many sell orders, accounting for 65%, which is a clear sign of selling pressure. Some people might want to cash out at a high price, which isn't good for the market. If there aren't enough buyers, the price is likely to drop.
Then there's the Starlink launch; everyone was hoping for a price increase, but the price didn't go up and instead disappointed everyone. This indicates that the celebrity effect isn't as effective anymore, and the market is starting to consider multiple factors. In the future, such events may not significantly impact prices.
Some people feel that the risk of DOGE is too high right now; increasing positions or holding could lead to significant losses. But others remain optimistic, believing Musk's influence is still strong, and prices might rise later. These two views are essentially reactions to the market's uncertainty.
So, what should we do? My advice is to calm down first and not be too impulsive.
First, set a profit and stop-loss point for yourself; for example, short-term players can sell around $0.42 if they have made a decent profit, and if it drops to around $0.35, then consider stopping losses.
Second, pay more attention to external news, especially what Musk is doing and any new government policies, as these could influence market trends.
Third, be flexible; long-term investors might consider gradually reducing their positions, securing some profits first, but don't sell everything in case there are future opportunities.
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