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DOGE struggles to reach 1 dollar: trading enthusiasm declines, Token selling pressure hard to alleviate
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.
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50 billion coins poured in every year, no wonder it can't hold up.
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As soon as the hype cools down, it gets exposed, still at 1 dollar.
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I told you the Trump craze was unreliable, and now?
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ETF only absorbed 5.4 million? Haha, what kind of support is that?
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Unlimited supply, this thing is inherently a hot potato.
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With trading volume dropping like this, the big players probably already ran.
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Looks like the story of Dogecoin has come to an end.
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It's the same old pattern of hype and cooling off; the halving in trading volume should have been obvious by now.
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I just want to know, how much longer do we have to dream about $1?
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ETFs only absorbed 5.4 million, and the supporting strength... is a bit awkward.
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With such high supply pressure, no wonder the popularity has faded.
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The market cap needs to reach 147 billion to be considered, but there's no need to even think about it.
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Last year's Trump concept profits should have been cashed out long ago.
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Declining popularity + economic flaws, a double blow.
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Every year, 5 billion new coins are dumped, who can withstand that?
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From 15 billion to 6.6 billion, the heat plummeted so quickly? What does this indicate?
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Wait, 5 billion new coins flooding the market every year, this is basically a bottomless pit.
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The Trump effect can't save it, which shows that the fundamentals are really poor.
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Not even an ETF is being bought, 5.4 million is really laughable.
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I just want to ask, can this still turn around?
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To say something unpleasant, this is just speculating on a product type, there’s no moat.
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With such a terrifying supply, dreaming of rising to 1 dollar is pure fantasy.
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When the heat cools down, retail investors run away really fast, normal operation.
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At first, it was all emotional trading, now the emotions are scattered.
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50 billion coins dumped every year... this supply pressure is really extreme.
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Volume dropped from 15 billion to 6.6 billion, where have all the people gone?
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Want 1 dollar? Let’s talk after the market capitalization quadruples, lol.
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ETF only attracted 5.4 million... is this what’s called the "new support point"?
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This is how the crypto world works, once the hot money withdraws, the true form is immediately exposed.
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After Trump’s hype, there’s been no follow-up; the dumb buyers need to reflect on themselves.
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Economics collapsing, heat cooling off, no new influx... how can DOGE be saved?
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Looking back at the peak of 0.48, it has already been the summit.
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This kind of supply pressure, technical analysis can't save the fundamental issues.
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It's both hype and cooling, this is the fate of memes coins, right?
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The dream of 1 dollar is shattered, the ETF can't save it, and the supply side's hard injuries are unsolvable.
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Volume has slumped by 50%, this is the most heartbreaking thing.
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I thought Trump could pump it again, but in the end... forget it, no need to mention it.
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A 5.4 million dollar ETF scale really can't make me smile.
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With such a poor fundamentals, how can you dare to rush to 1 dollar? Wake up, everyone.
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From a 152% rise to now, the market is this ruthless.
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Dumping pressure + cooling heat, the double blow is too fatal.