DOGE struggles to reach 1 dollar: trading enthusiasm declines, Token selling pressure hard to alleviate

robot
Abstract generation in progress

After last year's U.S. election, Dogecoin was once in full swing - rising as much as 152%, and the price even approached a high of $0.4846, driven by the craze triggered by Trump's appointment of relevant departments. But this wave of market did not last.

To put it simply, the problem lies in two aspects. First, the token economics itself has its weaknesses: with an annual selling pressure of about 5 billion DOGE, it would take a market cap of 147 billion dollars to reach the 1 dollar target, which is indeed quite a pressure. Second, the market enthusiasm has cooled rapidly - the trading volume has dropped sharply from 15 billion dollars a day to 6.6 billion dollars, showing a significant decline in popularity.

Looking again at the new US spot ETFs launched this year, by the end of the year, they only attracted a scale of 5.4 million dollars, far from becoming a new support point for the market. Weak demand coupled with supply pressure, this situation is indeed not optimistic.

DOGE-0,04%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 9
  • Repost
  • Share
Comment
0/400
ForumLurkervip
· 12-27 00:20
It's another hype cycle, that surge should have fallen back long ago. --- 50 billion coins poured in every year, no wonder it can't hold up. --- As soon as the hype cools down, it gets exposed, still at 1 dollar. --- I told you the Trump craze was unreliable, and now? --- ETF only absorbed 5.4 million? Haha, what kind of support is that? --- Unlimited supply, this thing is inherently a hot potato. --- With trading volume dropping like this, the big players probably already ran. --- Looks like the story of Dogecoin has come to an end.
View OriginalReply0
MidnightTradervip
· 12-26 09:46
Dogecoin's recent performance is quite risky, with an annual inflation of 5 billion coins, which is really a dead end. --- It's the same old pattern of hype and cooling off; the halving in trading volume should have been obvious by now. --- I just want to know, how much longer do we have to dream about $1? --- ETFs only absorbed 5.4 million, and the supporting strength... is a bit awkward. --- With such high supply pressure, no wonder the popularity has faded. --- The market cap needs to reach 147 billion to be considered, but there's no need to even think about it. --- Last year's Trump concept profits should have been cashed out long ago. --- Declining popularity + economic flaws, a double blow. --- Every year, 5 billion new coins are dumped, who can withstand that?
View OriginalReply0
CryptoWageSlavevip
· 12-25 00:53
It's the same old tune again, doge always falls just short at the final moment.
View OriginalReply0
GateUser-a0736d41vip
· 12-24 04:29
0.07 I All in
View OriginalReply0
liquidation_surfervip
· 12-24 00:49
Damn, it's this trap again, once the hype passes, it reveals its true form.
View OriginalReply0
NotFinancialAdvicevip
· 12-24 00:48
Another dream has shattered, I should have seen the fate of shitcoin clearly. --- From 15 billion to 6.6 billion, the heat plummeted so quickly? What does this indicate? --- Wait, 5 billion new coins flooding the market every year, this is basically a bottomless pit. --- The Trump effect can't save it, which shows that the fundamentals are really poor. --- Not even an ETF is being bought, 5.4 million is really laughable. --- I just want to ask, can this still turn around? --- To say something unpleasant, this is just speculating on a product type, there’s no moat. --- With such a terrifying supply, dreaming of rising to 1 dollar is pure fantasy. --- When the heat cools down, retail investors run away really fast, normal operation. --- At first, it was all emotional trading, now the emotions are scattered.
View OriginalReply0
VibesOverChartsvip
· 12-24 00:44
DOGE is just a game of musical chairs, once the heat is over, its true form is revealed. --- 50 billion coins dumped every year... this supply pressure is really extreme. --- Volume dropped from 15 billion to 6.6 billion, where have all the people gone? --- Want 1 dollar? Let’s talk after the market capitalization quadruples, lol. --- ETF only attracted 5.4 million... is this what’s called the "new support point"? --- This is how the crypto world works, once the hot money withdraws, the true form is immediately exposed. --- After Trump’s hype, there’s been no follow-up; the dumb buyers need to reflect on themselves. --- Economics collapsing, heat cooling off, no new influx... how can DOGE be saved? --- Looking back at the peak of 0.48, it has already been the summit. --- This kind of supply pressure, technical analysis can't save the fundamental issues.
View OriginalReply0
ser_ngmivip
· 12-24 00:34
DOGE this wave is indeed disappointing, the selling pressure of 5 billion coins every year is really unbearable. --- It's both hype and cooling, this is the fate of memes coins, right? --- The dream of 1 dollar is shattered, the ETF can't save it, and the supply side's hard injuries are unsolvable. --- Volume has slumped by 50%, this is the most heartbreaking thing. --- I thought Trump could pump it again, but in the end... forget it, no need to mention it. --- A 5.4 million dollar ETF scale really can't make me smile. --- With such a poor fundamentals, how can you dare to rush to 1 dollar? Wake up, everyone. --- From a 152% rise to now, the market is this ruthless. --- Dumping pressure + cooling heat, the double blow is too fatal.
View OriginalReply0
RuntimeErrorvip
· 12-24 00:21
Those who trade DOGE should wake up; this thing's inflation pressure cannot be solved.
View OriginalReply0
View More
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)