Cant it go to $1 yes it can but would you take the risk? I have learn that if you decide to take investment/trade serious how to manage risk is a big thing, doesnt matter if its $1 or $1000, and when it comes to take profits you just do it and run away with your bag of profits and I feel that there are a lot of ppl that will be left holding the bag on this TikTok Dogecoin pump and its not because the project is bad actually Dogecoin is listed on many exchanges that other projects with probably more meaning to the space but the Doge is a real OG, none the less this is just an artificial pump from social media that have probably little knowledge of how crypto and investing works, probably after this same as 2017 every singe cryptocurrency under a peny will start to pump
This is Doge on BINANCE probably the BIGGEST ALTCOIN EXCHANGE IN THE WORLD!!! based on tradingview charts Dogecoin already went up 140%, this post is like a trading 101 of what I have learn in the past 3 years
- Never chace a pump, you will get rekt
- There will be more opportunities
- Is better not to make money than to loose money
Those are three rules that I try to follow every single time I step into my computer with the will to make profit out of investing or trading crypto, follow a social media trend will only get you rekt
Lets put it this way, you prefer to buy now and see it go back down when it was prior July 5, 2020 and see how your capital value is reduce or wait and see if it goes down but if it doesnt then at least your capital value was not reduce? ask that question to yourself before you invest on Dogecoin or any other cryptocurrency because Bitcoin also gets dump in your head when you buy all time highs.
The is not much technical analysis to do on Dogecoin for several reasons
- Low volume
- Very low value
In some professions HOPE get you kill but in trading HOPE that one day a cryptocurrency will get to just a penny gets you rekt, if you are in DOGE COIN before July 5, take profits and even scale out of your position but this is not the time to buy this asset, not because its a bad asset or has no value, its just that it needs to cool down, it needs to take a breath to then if possible continue to go up in value, chats are like a race sometimes you go pedal to the metal just floor it but then comes a turn and you need to downshift and slow down to then floor it again, well right now Dogecoin is downshifting banging big backfires from that exhaust to probably go up but then the question is how good are you with risk management, if you are not then just dont risk more than you can afford to loose and learn the hard way loose everything .
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