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Free skirt + Q: 3914125409 No threshold, no charge There is no charge to enter the community skirt, no exchange Click on the blue words above to follow and not get lost Dear friends, there are more melons in the currency circle than Double Eleven express delivery recently, especially the operation of Dogecoin (DOGE), which has directly confused many people - it was fine a few days ago, but suddenly it "free-falled", falling 55% in one day, and the market value evaporated by 6 billion US dollars. It even reached a new low for the year, and the lowest price was 0.09 US dollars, which is cheaper than discounted mineral water in the supermarket!  This matter has to involve Trump. The former president made a comment on his "Truth Social" platform, hinting at increasing tariffs on China. Originally, the matter of tariffs had nothing to do with the currency circle, but the financial market was like a sensitive little girl. It panicked when it heard "increased tariffs." The stock and currency markets all fell. Dogecoin bore the brunt and became the "diving champion". Its 24-hour decline ranked among the highest among all currencies. The price range that had been stable since mid-February was suddenly broken. Some novices may want to ask: "After falling so hard, is it going to be over?" ” Don’t cry in a hurry, let’s look at the data. The price of Dogecoin is now stable below $0.20, and an indicator called the "Relative Strength Index (RSI)" shows 34. Simply put, if this number is lower than 30, it is called "oversold," which means that there are too many people selling and it is almost impossible to sell anymore. Instead, there may be a chance of rebound. And despite the sharp drop, the trading volume has not dropped. The trading volume alone is 11 billion US dollars, which shows that there are still many people "secretly taking over", and the buying intensity is not weak.  What's even more interesting is that many analysts have begun to shout that "the bull market is coming." This sounds like a pie in the sky, but it is really based on evidence. For example, an analyst named Cephii posted on X (the original Twitter): "All DOGE long positions have been liquidated. This is how bull markets usually start! ” What does it mean? It's just like a group of people who were originally bullish on Dogecoin, but ended up selling all their chips during the crash. When all the sellers ran out, as soon as new buying orders came in, wouldn't the price easily rise? Dogecoin is now stable at around $0.18, which is exactly the state of "clearing out old chips". However, we cannot just listen to the good news. There are still short-term risks. An analysis called "Spot Taker CVD" shows that in the past few days at the end of October, people selling Dogecoin were still in control of the situation, and maybe it would fall a little further. Moreover, there are many large orders piled below $0.20 in the market. For example, there are orders of $7 million near $0.179, and orders of $6.74 million a little further down. With so many orders waiting to "buy the bottom", the price may first fall below $0.18, and then slowly rebound. If it does rebound, where is the target? At present, the most realistic one is above $0.24, because that is where the "liquidity cluster" is most concentrated - simply put, there are many people buying and trading is active, and the price can easily reach there. If it can successfully break through $0.24, it can then hit the resistance level of $0.28 to $0.30. ； If even this resistance level is broken, it will be a big deal. Maybe we can touch the high point of the previous bull market, which is the range of 0.48 to 0.50 US dollars. At that time, those who have DOGE in their hands will laugh. Of course, there is never a "guaranteed profit" in the currency circle, and it is possible for prices to fall again before rebounding, or to swing back and forth within a certain price range (that is, "consolidation"). So novices, don’t rush in as soon as your head gets hot. Either check the market more, or test the waters with a small position first. After all, the money is yours, so it’s always right to be cautious. Finally, to summarize: Dogecoin’s plunge was caused by Trump’s tariff remarks. It is now in an “oversold” state and has a chance to rebound, but it may still fluctuate in the short term. As for whether the bull market has begun, it is still too early to draw a conclusion, but at least there is no need to panic and "cut the meat and run away". Be patient and wait to see the follow-up trend. Maybe there will be surprises? Finished talking about the market today! Like it if it’s useful, share your thoughts in the comment area ~ Follow me, I’ll continue to search for popular coins tomorrow, and don’t get lost in the currency circle!  |
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