Is Dog King going to battle at the cliff line tonight?
Why did DOGE suddenly drop 5%? It was still stabilizing around $0.2 yesterday, and today it directly fell below $0.19, with trading volume surging to $6 billion. What is going on?
This cannot be separated from the hawkish comments from the Federal Reserve: as soon as Powell opened his mouth, saying that interest rate cuts might be paused, the market immediately panicked.
As a highly volatile meme coin, DOGE naturally bears the brunt. Coupled with Bitcoin also dropping below the $100,000 barrier, the overall sentiment in the cryptocurrency market could hardly be positive.
Looking at the chart, although the MACD histogram remains negative, it is gradually getting shorter, indicating that the bullish forces are quietly strengthening.
The KDJ indicator also shows a neutral position, and the MA10 value is still greater than the MA30 value. Although the short-term trend is still downward, this could be the prelude to a bull market?
Speaking of the little horse, although he hasn't directly mentioned DOGE lately, his influence is still present. Previously, when he mentioned supporting DOGE, the price surged. This time's plummet might just be the market waiting for him to speak. If Musk comes up with another 'Musk moment,' DOGE might just bounce back!
This wave of DOGE's drop, although frightening, may not necessarily be a bad thing. Market sentiment often overreacts, which can lead to opportunities.
The key threshold is at 0.190!
Personal opinion: Keep a close eye on the 4-hour volume — a surge of 200% is the call to charge! If it coincides with the J value turning upwards, then dive in with your eyes closed! The lower Bollinger band at 0.18892 is the bulls' lifeline! If it breaks down, stop loss immediately; if it rebounds with volume to 0.19561, you can add. When the Dog King plays dead, often the fangs are already at the throat!
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