Dogecoin: Trading What You See, Not What You Hope For
2025-01-23
Category: None

The crypto world is buzzing about the acronym D.O.G.E., with many hoping this hype will ignite a massive price explosion for Dogecoin. 
However, the market has repeatedly failed to deliver. In fact, every rally this year has been met with heavy selling.

As I often say, " trade what you see, not what you dream of ." And from a purely technical perspective, what I see for Dogecoin right now doesn’t look promising.

 A Look Back: The Trump Pump and the Aftermath 

Dogecoin experienced a massive pump last year, fueled by Trump’s presidential election win. But after the initial euphoria, the market cooled down, and Dogecoin entered a correction phase.

Leading up to Christmas, the price even temporarily dipped below the horizontal support level at $0.35. While the start of 2025 brought a recovery above this support, bulls have struggled to maintain their gains.

 The Current State of Dogecoin 

Even the brief spike two days ago, which initially looked promising, was quickly reversed. As of now, Dogecoin has returned to this critical $0.35 support line, showing continued weakness.

 What’s Next? 

Given the current price action, my expectation is that this support will eventually give way. If that happens, we could see Dogecoin drop to around $0.26, a level that might offer stronger support.

 The Bottom Line 

Dogecoin’s technicals suggest caution, not optimism. While the D.O.G.E. hype might tempt some into dreaming of another rally, the charts tell a different story. If you’re trading Dogecoin, stay focused on the reality of the price action and be prepared for potential downside.

As always, trade wisely and stick to the facts, not the fantasies.







