Dogecoin's DOGE/USD lackluster performance over the past month has dampened optimism among Polymarket traders, but crypto traders on social media remain hopeful about its future prospects.
What Happened: Crypto trader Altcoin Sherpa advised his followers on X to buy DOGE aggressively only when Bitcoin shows a clear upward momentum during its next leg up.
Otherwise, he suggests holding DOGE for the long term to avoid being "chopped to death" in a volatile market.
Trader EliZ shared an intraday trading strategy for DOGE, stating he would enter only when it breaks the resistance above 42 cents.
Crypto Daily Trade Signals maintained a positive outlook, predicting a "big breakout soon," while trader Hardy echoed the sentiment, suggesting that Dogecoin is poised to hit a new all-time high.
Also Read: Hacker Exploits Dogecoin Vulnerability, Crashes 69% Of Nodes—But DOGE Still Spikes 1.8%
Why It Matters: Crypto chart analyst Ali Martinez highlighted significant whale activity, noting that 160 million DOGE were accumulated within the past 24 hours.
However, Polymarket data shows that the probability of Dogecoin reaching $0.69 by Inauguration Day on Jan. 20 has fallen from 41% on Nov. 28 to 29% today. This decline comes despite bullish market sentiment fueled by Bitcoin's climb to $100,000.
Coinglass data shows DOGE liquidations remaining low, with $2.55 million in long liquidations and $1.16 million in short liquidations, suggesting limited leveraged trading activity.
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