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In the crypto assets market, Bitcoin may be the king, but DOGE is undoubtedly one of the most captivating characters. As an emotion-driven token, DOGE often plays a unique role in market cycles.
Although every trader has their preferred investment targets, the influence of DOGE cannot be ignored. In the last bull market, the remarkable 7-fold increase of DOGE not only made it the center of attention but also fueled the frenzy of the entire MEME coin sector.
Currently, the meme coin market is relatively calm, with no obvious signs of a rebound yet. However, from a technical analysis perspective, DOGE is at a critical position. The weekly chart shows that it is at the bottom of the range, which means the potential for an upward move could be quite substantial. As investor expectations for ETFs continue to rise, funds are likely to flow back into the meme coin sector, and DOGE, as the benchmark in this field, is likely to become the leader in the sector's recovery.
From the daily chart, DOGE has begun to show signs of stabilization. Currently, the price is hovering around $0.22, which could be a good opportunity for gradual accumulation. If market sentiment continues to improve, DOGE is expected to move towards the target of $0.46, which would mean a potential return of 100%.
However, investors need to keep in mind that the Crypto Assets market is highly volatile, with risks and opportunities coexisting. The trend of DOGE depends not only on technical aspects but also heavily relies on market sentiment and the influence of social media. Therefore, it is crucial to conduct thorough research and carefully assess risks before making any investment decisions.