The Federal Reserve cut interest rates, why did Dogecoin plummet? $BTC $DOGE

In my opinion, the reason Dogecoin dropped along with the market after the Federal Reserve cut rates is not that it has become unviable—it's purely a sudden shift in market sentiment.

When the news of the rate cut came out, many thought it should rise, but in fact, funds initially fled, especially withdrawing from volatile assets like Dogecoin. This wave of decline was driven by market sentiment and has nothing to do with its inherent value.

Looking at the trend, it's clear that the previously held support at 0.1407 couldn't hold, and it plummeted to around 0.1364, with a significant volume drop indicating panic selling. However, as it approached 0.1372, selling pressure gradually lessened, and some buyers started to step in, slowing the downtrend.

So my view is very simple: the most important level right now is 0.1372. As long as it stays above this level, Dogecoin is likely to consolidate for a while and might even rebound a bit.

But if this level is completely broken, then there's no point in holding on, as the subsequent trend may look even worse.

#巨鲸动向 Brothers, a strong coin that can yield 10 times returns is here, and I am preparing for a big move in the upcoming market. This time, if we hit the jackpot, we will certainly earn a fortune, I want to witness it in the chat room.