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Dogecoin (DOGE) has experienced a gain of 400% since September, but the momentum has slowed and profit booking has been observed.
After reaching 20-day EMA in mid-December, the DOGE price encountered strong selling pressure, losing the EMA and dropping to the support level of $0.300.
However, the token has managed to hold this level, and buyers may view the dip as an opportunity to buy the token at a discount.
On the other hand, sellers could attempt to push the price below $0.300, potentially leading to panic selling and strong selling pressure.
If the DOGE price fails to hold above $0.300, it could trigger panic selling, potentially leading to further declines and making it difficult for buyers to regain momentum.
According to the analysis, if buying interest returns, Dogecoin could experience a significant price movement.
However, this article serves only as an informative piece and does not provide any financial, investment, or other advice.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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