My people! What's up with Dogecoin ($DOGE)! That crypto that has us all on the edge of our seats is making headlines! Get ready because I'm about to spill the tea, because things are like dominoes: one piece falls and the others follow.
Imagine that the price of DOGE, which has been like a roller coaster since May 23, finally broke a downward trend line! That's like a breath of fresh air, right? It had fallen 43% from its peak of $0.25441 to $0.14270 on June 22. But now, it's around $0.16127, having bounced back 13% from that low! Just to show you that not everything is lost! 🎉
But let's not get too excited too quickly, my friends. Experts are keeping a close eye and say that technical indicators, like the RSI and the MACD, are showing signs that bullish momentum is running out of steam! It's like when you're driving and you run out of gas: you have to stop or look for a gas station! This means that, although there was a breather, the rise may not be as strong as we would like. 😔
Now, not everything is sad in the DOGE neighborhood. On a fundamental level, things look better! AInvest, a big player in this, says there is a 51% chance that a DOGE ETF will be approved in 2025. That would be big news! An ETF is like a big door for heavyweight investors to put money into Dogecoin, and that legitimizes it a lot! Plus, Coinbase, which is a big platform, is lobbying for clearer regulations for cryptos, which indirectly benefits DOGE.
And in the world of decentralized finance (DeFi), Dogecoin is behaving like the big players! You can now use wrapped DOGE on Coinbase's Base network, giving it more utility in the applications out there. The community is active, and that's super important.
On the macroeconomic front, the Federal Reserve (FED) of the United States kept interest rates steady, but hinted that they might lower them in the second half of the year! And with the peace agreement in the Middle East lowering oil prices, things look good for risk assets like cryptocurrencies! This is like a tailwind for Dogecoin. 🌬️
Now, back to the technicals, breaking that downward trend line is a good sign, and buying volume has increased a little. But the RSI dropped to 43 and the MACD turned red again! This is like a warning light, a signal that sellers are taking control and the recovery is slowing down! 🛑
What awaits us?
Well, it seems that the rise we were expecting is being canceled because DOGE couldn't break the barrier of $0.17. The technical indicators are saying: "Sellers are in charge here!" So, be careful! There is a high probability that the price could drop to $0.145 or even $0.135 in the short term if strong demand doesn't come in to save it.
So let's stay alert, my people! This is like baseball, one day you win, another you lose. Make sure to research well before any moves!$DOGE
