The big dog has taken off, can we still chase it?
This latest price surge has rekindled people's long-standing desire for Dogecoin to reach $1. Recent data shows that Dogecoin's value has more than doubled in the past 30 days, and this recent spike has brought investors as much as a 150% return in the past week.
The rise in Dogecoin's price can largely be attributed to the bullish sentiment triggered by tech entrepreneur Elon Musk. During Trump's presidency, Musk's association with this meme coin became increasingly close.
Musk's recent comments about establishing a 'Department of Government Efficiency' (DOGE) have caught traders' attention, as they optimistically believe that this governmental focus could indirectly drive the development of Dogecoin and stimulate broader interest in this digital asset.
The futures market is also showing active conditions, with open contracts nearing historical peaks, and futures tracking DOGE have faced a total of $68 million in liquidations.
Everyone can see $1 as a psychological target price for Dogecoin, and the emerging memes and speculations related to 'Dogecoin rising to $1' have further sparked interest among retail investors and traders.
Dogecoin's all-time high price was set in May 2021, slightly above $0.70. David believes that if the current momentum continues, that elusive $1 milestone may be more hopeful to reach than ever before, reigniting interest in one of the most popular meme tokens in the cryptocurrency space — Dogecoin.
No head, as long as you can hold it, chase it freely, the bull market is not over, there's a lot of room!!!
If you want to seize this bull market, it's definitely too late to learn and sell on the fly; it's best if someone can guide you quickly.
I am David, welcome to communicate!
