Brothers, the DOGE market has been lively lately, but we need to calm down and think through how to respond more cautiously~
First, let's talk about the signals in the market. There are indeed quite a few positive movements: in the past 3 days, whales have quietly increased their holdings by 750 million DOGE, of which 150 million has come from new funds, and the circulation is gradually tightening; the mining company Bit Origin also purchased 40.54 million DOGE at an average price of $0.2466, indicating that institutions are a bit optimistic about its micro-payment scenario.
Now let's look at some potential catalysts. Elon Musk's X platform is testing the "X Money" payment system, and there is a DOGE module in the code, which sounds quite exciting, but the situation is different from before — Musk's influence in the crypto space is not as strong as it used to be, and the X platform has recently been scaling back operations. Even if it does launch, it's hard to say how much of an increase it can drive. Additionally, the Trump administration's "Department of Government Efficiency" (D.O.G.E.) is perceived as a punning good news, but in actual operations, it has faced quite a few troubles; 21 core members have departed, and Musk has also faded out, so the potential of this good news may not be that substantial.
As for trading, consider shorting around 0.2710; this position is a recent resistance level, and technically it seems a bit "exhausted" — the 4-hour RSI is nearing the overbought zone, and upward momentum is weakening. The first target can be set at 0.2580; if it can steadily break below, we can look down to 0.2210, taking it step by step for more security. There are always surprises in the market, but if we clearly see the signals, avoid greed, and remain calm, we can respond more confidently~#GOGE