Some folks are asking whether to make a short play on Dogecoin (DOGE).
Honestly, it's not necessary, especially if you're holding spot.
Why? Because DOGE is currently hovering around the bottom price range, roughly between 0.08 and 0.1.
Even if the market continues to dip, the downward space is limited—how much further can a coin that hasn't really pumped go down?
So: if you’re in spot trading, I wouldn't recommend trying to swing trade. The price is bouncing around the bottom area, and it’s easy to get 'rekt' (miss out/sell too early). Better to hold long-term.
If you're trading contracts or using leverage, then you might consider short-term swings, but make sure to manage your risk properly.
Here’s something to compare and pay special attention to:
CHZ has nearly doubled from the bottom, offering enough profit potential, so short-term swings make sense.
But DOGE hasn’t really moved, and the downside is limited, so there’s no need to fuss over a bit of short-term volatility.
To sum it up: not every coin is suitable for short plays. You need enough room for swings; coins that are stagnant at the bottom should just be held in spot trading. $DOGE #DOGE
Honestly, it's not necessary, especially if you're holding spot.
Why? Because DOGE is currently hovering around the bottom price range, roughly between 0.08 and 0.1.
Even if the market continues to dip, the downward space is limited—how much further can a coin that hasn't really pumped go down?
So: if you’re in spot trading, I wouldn't recommend trying to swing trade. The price is bouncing around the bottom area, and it’s easy to get 'rekt' (miss out/sell too early). Better to hold long-term.
If you're trading contracts or using leverage, then you might consider short-term swings, but make sure to manage your risk properly.
Here’s something to compare and pay special attention to:
CHZ has nearly doubled from the bottom, offering enough profit potential, so short-term swings make sense.
But DOGE hasn’t really moved, and the downside is limited, so there’s no need to fuss over a bit of short-term volatility.
To sum it up: not every coin is suitable for short plays. You need enough room for swings; coins that are stagnant at the bottom should just be held in spot trading. $DOGE #DOGE