$DOGE Dogecoin is stuck at 0.08, but the underlying story has changed
Guys, take a look at the chart. DOGE is hovering around 0.0798, still slumped in a descending channel, with the moving averages near 0.087 weighing heavily overhead. The short-term picture is definitely weak.
But there are two good signs beneath the surface:
First, the Dogecoin Foundation has launched Dogecoin Labs and is starting to seriously promote apps and payments, rather than relying purely on slogans. Second, on-chain MVRV has fallen to 0.74. People who bought over the past year are all sitting on losses, which suggests most of those who were going to panic-sell have probably already sold.
So what’s the move?
Don’t rush to chase a short-term bounce. Wait for the price to pull back and stabilize around 0.077–0.078, then consider a small long position. Admit you’re wrong if it breaks below 0.075. First, let’s see if it can get above 0.083; if it does, the next level to watch is the major hurdle at 0.087. $Q.US
The short-term picture is still in a hole, but the story underneath is starting to change. Only those who can hang on will have a chance to make the big gains. #比特币突破8.2万美元
Guys, take a look at the chart. DOGE is hovering around 0.0798, still slumped in a descending channel, with the moving averages near 0.087 weighing heavily overhead. The short-term picture is definitely weak.
But there are two good signs beneath the surface:
First, the Dogecoin Foundation has launched Dogecoin Labs and is starting to seriously promote apps and payments, rather than relying purely on slogans. Second, on-chain MVRV has fallen to 0.74. People who bought over the past year are all sitting on losses, which suggests most of those who were going to panic-sell have probably already sold.
So what’s the move?
Don’t rush to chase a short-term bounce. Wait for the price to pull back and stabilize around 0.077–0.078, then consider a small long position. Admit you’re wrong if it breaks below 0.075. First, let’s see if it can get above 0.083; if it does, the next level to watch is the major hurdle at 0.087. $Q.US
The short-term picture is still in a hole, but the story underneath is starting to change. Only those who can hang on will have a chance to make the big gains. #比特币突破8.2万美元