Can Dogecoin reach 1 dollar? Key support, retail selling pressure, and ETF expectations all revealed! These truths you must know!
Can Dogecoin reach 1 dollar? Recently, this topic has been heatedly discussed, but you may not have thought through the underlying details! Let me start with a painful conclusion: don't let the 'get-rich-quick dream' cloud your judgment, look at these points clearly before taking action.
First, 0.21 dollars is a key position. If this position cannot be held, there is a high probability it will drop to around 0.18 dollars in the short term, which is the last 'psychological defense line' for bulls, and breaking it is a signal for a new round of downward exploration.
Next, let's talk about the retail investor mentality. Retail investors currently dominate the market, with many waiting to break even around the 0.3 dollar mark, and the pressure is heavy as a rock. Last year's rebound to 0.4 dollars could not hold, indicating that the bulls simply lack the strength to push higher, let alone expect a direct surge to 1 dollar.
Recently, the market has been supported entirely by the expectation of 'ETF approval', which is indeed the 'catalyst' for institutional funds to enter, but don’t treat it as a panacea. The approval of the ETF could bring a wave of traffic, but for Dogecoin to rise long-term, expectations alone are not enough; real capital must be continuously poured in.
More importantly, Dogecoin is essentially a 'celebrity coin', surviving on community sentiment and speculative trading, without technical support or real application scenarios, its price is entirely dependent on market sentiment. Want to reach 1 dollar? Unless there is large-scale capital entering the market and the ecosystem truly takes shape, otherwise, it’s just a castle in the air.
So, ordinary investors should not rush to go 'All in'. Short-term trading is fine, but keep an eye on the support level of 0.21 dollars; if it breaks, run quickly; if it holds steady, then consider pushing higher. Remember, 1 dollar is not shouted into existence; it is built up by capital. It is too early to talk about 'inevitability' now. Be rational, don’t let emotions lead you, and steady profits are the way to go.
Still unsure how to operate in this market? Follow me, I’ll provide the strategy, execution is up to you! There are only so many positions; those who act fast will benefit, those who are slow will miss out!
