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I think DOGE actually represents a microcosm of the crypto market over the past few months. That's right, most coins have risen a bit since the low point in April, especially the top assets, but the overall pace is slow, and the trend resembles a gradual climb, with highs and lows inching up.
Technically speaking, this is an upward trend, but it is not the kind of large-scale one-sided market; instead, it is progressing in a bumpy manner. In contrast, leading coins like BTC and ETH are still performing well, but most coins have similar trends: experiencing fluctuations every couple of weeks, appearing lively, but in reality, there is not much substantial progress.
This rhythm may not be a bad thing for DOGE; slowly grinding up can be considered as laying a foundation. As long as it can avoid making new lows, the trend will not be broken. The real risk lies in if it retraces to a lower low again, which would mean a structural break and negate all previous accumulation.
Whether DOGE can sustain this "slow bull" rhythm will determine its potential to break out into an independent market trend. After all, in the current environment, funds are more inclined towards BTC and ETH. A coin like DOGE, which has a certain mass base, can only wait for the moment of fund rotation by stabilizing its trend.
#DOGE #九月份加密市场能否突破