As much as dogecoin holders want the coin to reach the moon it always seems to fall short of new buyers to push the price higher. In its previous run, ironically, 0.420 acted as a resistance. Even with Coinbase listing dogecoin, we seem to have another "buy the rumour, sell the news" effect on the coin, The coin also pumps whenever Elon Musk Tweets which further shows that it is purely driven by sentiment and nothing else.
So do I think dogecoin will never reach 1 dollar?
it is hard to say, sentiment can go both ways. With newer investors entering the crypto market another big hype might be more than enough to push it up there. But it's going to come crashing down before you can even blink.
To all the New investors, invest wisely. There might be a hundred people on different platforms asking you to buy and hold so that you can go to the "moon" together. Just know that they have been holding the coin way before you got in on the rocket. The minute you reach the moon, you might get dumped on sending you back to earth. Will I get proved wrong? There is a chance. If doge manages to develop good fundamentals and a project to back it up with I don't see why it cannot be a stable coin.
Love or hate doge, you cannot deny that it has brought in millions of new investors to the market which is brilliant for our community.
Thanks for reading, this is not financial advice. Also, stay away from "Tiktok Crypto Gurus"
So do I think dogecoin will never reach 1 dollar?
it is hard to say, sentiment can go both ways. With newer investors entering the crypto market another big hype might be more than enough to push it up there. But it's going to come crashing down before you can even blink.
To all the New investors, invest wisely. There might be a hundred people on different platforms asking you to buy and hold so that you can go to the "moon" together. Just know that they have been holding the coin way before you got in on the rocket. The minute you reach the moon, you might get dumped on sending you back to earth. Will I get proved wrong? There is a chance. If doge manages to develop good fundamentals and a project to back it up with I don't see why it cannot be a stable coin.
Love or hate doge, you cannot deny that it has brought in millions of new investors to the market which is brilliant for our community.
Thanks for reading, this is not financial advice. Also, stay away from "Tiktok Crypto Gurus"