🚀 DOGE to $0.75? The Road Ahead Needs Volume! 🐕
Dogecoin's journey to new highs has been a rollercoaster, with rallies meeting resistance and sell-offs testing support. While the hype is often there, the crucial question remains: Is the volume backing it up? 🤔
📉 Low Trading Volume a Concern: DOGE's trading volume has seen a significant drop, especially in derivatives, failing to reach even 50% of its November 2024 peak. On May 19th, only $6 billion was traded, a stark 90% decline from the $60.11 billion peak!
The recent push on May 13th saw volume briefly cross $10 billion, but another wave of sell-offs quickly brought it down. This low activity, coupled with a high number of DOGE shorts, is putting pressure on the price.
📈 What's Needed for a Breakout?
For DOGE to truly push past $0.5, we need to see derivatives volume surge above $30 billion. And to crack that all-time high of $0.7? We're talking about significantly higher buying power than even the 2021 bull run!
Is a volume-fueled comeback on the horizon for Dogecoin? Share your thoughts! 👇
#DOGECOİN #DOGE #DinnerWithTrump #MerlinTradingCompetition #GENIUSAct