Attention! $DOGE has suffered a "double kill": Musk, the Federal Reserve, is it time to buy the dip?
The Federal Reserve's interest rate decision has raised concerns, with the market estimating a 96.9% probability of maintaining high rates, suppressing liquidity for risk assets. U.S. service sector data exceeded expectations, and treasury yields rose, causing safe-haven funds to flee from cryptocurrencies. The S&P 500 dropped 4.4%, BTC fell below $52,500, leading to a decline in altcoins, with DOGE also affected.
Musk stated that "cryptocurrency payments will not be introduced in the near future", shattering the fantasy of DOGE becoming a payment tool. Previously, due to the X platform obtaining a license, DOGE surged 12%, but after expectations were dashed, it plummeted 12.5%.
In the past 24 hours, the entire network saw liquidations of $788 million, with DOGE contributing over 30%. High-leverage long positions faced liquidations, triggering a cascade effect, and some miners sold off to cover costs, leading to a surge in net inflow on on-chain exchanges, with ancient whales also joining the sell-off.
Operational advice: $0.20 - $0.21 is the golden defensive zone, short-term selling pressure is exhausted. If the Federal Reserve shows no hawkish signals, the probability of a rebound from overselling is over 70%. Set a stop-loss if it breaks $0.208, and if it stabilizes above $0.215, you can try small long positions, targeting $0.23 - $0.25.
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