Brothers, Dogecoin has recently seen a significant rebound in its market, but there is currently a lack of upward momentum! As an old holder, I see that after DOGE broke through a two-month consolidation range, although it retraced by 7%, the big players took the opportunity to buy the dip, accumulating 600 million coins worth 140 million USD. That's quite a bold move. The key support is at 0.2-0.22 USD; if it can hold this position, it might push higher.

Thinking back to that market in 2021, DOGE surged directly to 0.74 USD, entering the top ten in market capitalization, all thanks to Musk's mouth and the power of the crazy community. But now there are quite a few issues; the inflation mechanism that issues 5 billion coins every year is a ticking time bomb, and it relies too much on Musk, the 'king of promotion,' as a single tweet from him can send the price on a rollercoaster ride.

To be honest, the practicality of DOGE is still a major flaw. Aside from a few merchants accepting it for payment, the actual application scenarios are limited. Short-term players can keep an eye on the support level around 0.2 USD, while long-term prospects depend on Bitcoin's performance and the development of practical applications. The most important thing is not to go All in; set a stop-loss, as this thing can be really volatile.

Do you think DOGE can reach 1 USD this time? Or will it be played with by Musk again? Let's chat in the comments～ Follow me to avoid those pitfalls in the crypto world! #doge