If Musk distances himself from Dogecoin, will DOGE fall into the "low price abyss"?
If Elon Musk is not so supportive of Dogecoin, the price of Dogecoin may fluctuate greatly.
Musk is pushing his X platform hard and wants to link it with the financial platform, but this road is not easy and there are many obstacles.
Although he has made a lot of efforts, he has not yet obtained regulatory approval from all states in the United States. If this matter is delayed, the launch of the platform may have to be postponed again.
Even if it is really approved in the future, the valuation of stock market coins and the opportunity to become a mainstream payment currency are still hanging.
Looking at the current market trend, Dogecoin is likely to fall by 40% to 60%, and the price may fluctuate between US$0.123 and US$0.22.
If the two key price levels of US$0.077 and US$0.057 cannot be maintained, the price of Dogecoin may be like a slide, falling to 82%, and the lowest may be only US$0.0098.
With less support and greater market pressure, the risks of Dogecoin are all exposed. The outlook is not good, and investors need to be more careful.
In recent days, the price of DOGE has fallen sharply, falling 13% in 24 hours.
The key price of $0.35 was not held and fell directly to $0.30.
The RSI on the 4-hour chart is only 17.67, which shows that Dogecoin has been sold too hard.
With such a low RSI, it may be time to take a break or make a correction. After all, buyers may feel that the opportunity has come and want to come in to buy at the bottom.
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