$DOGE Single Day Plummets 10%! Musk's "Change of Face" + Policy Tightening, Is the Meme Coin Dynasty About to Collapse?
Dogecoin has cooled off! "On August 20, the crypto market experienced a Black Monday, with DOGE plummeting 10% in a single day, dropping from a high of $0.25 to $0.21.
Over $30 million in leveraged long positions were liquidated within 24 hours! Is this sudden drop a short-term correction or a burst of the Meme coin bubble?
The reasons are as follows:
1. Policy: Federal Reserve's shift + regulatory tightening, risk assets being sold off
2. Federal Reserve's hawkish stance: On August 15, Powell's speech hinted at pausing interest rate cuts, leading to market expectations for liquidity easing being dashed, causing Bitcoin to simultaneously drop below $120,000, dragging down DOGE;
Recent personal viewpoint strategy:
If it breaks below the support level of $0.17, then a small position can be pursued up to one lot, and if it breaks $0.13, additional positions can be added looking towards around $0.11.
Bulls: Entering around $0.20 to test one lot, setting the stop loss at around $0.193, if it breaks above $0.218, additional positions can be added looking towards around $0.23 to exit for profit.
Recently, I plan to ambush a potential coin ready for a big surge; doubling is quite simple, and an expected space of over 10 times is not a problem. If you want to keep up, follow me to find me, and I will share for free!
