Bullish $DOGE , the general bearishness of the market may be an illusion
Recently, many people have actively shorted $DOGE, thinking that this is the peak, but I have a different view. When the market unanimously believes that a certain target has reached its peak, it often does not really reach its peak.
Trading view:
Multiple potential catalysts
Trump returns to the presidency: If Trump is elected, he and Musk may vigorously promote cryptocurrencies and promote them through the "Government Efficiency Department".
Dogecoin ETF: I predict that there will be a Dogecoin ETF launched next year, further promoting the market demand for DOGE.
Impact of retail investors returning: When Bitcoin breaks through new highs and news of Trump's strong support for cryptocurrencies begins to spread, retail investors will return to the market, and DOGE will be their first choice.
Correlation between market sentiment and BTC performance
Although BTC's dominance continues to rise, DOGE has remained strong and even set a new cycle high. Once BTC.D peaks, DOGE's performance may be even stronger.
The "muscle memory" effect of retail investors
Looking back at the frenzy of 2021, when retail investors rush into the market again, the first target they think of may still be DOGE.
In short, there is no reason to be bearish on DOGE at present. The general bearish sentiment in the market makes me more confident to be bullish.
