Technical analysis by InvestingIdeas9 about Symbol DOGE: Sell recommendation (2/18/2023)

The theory that most parabolic advances go down 80-90% is true, however, the bounce thus far for Dogecoin has been abysmal and needs more time for accumulating around .005 which would be a 99% decline from it's peak. This would give retail the baton once again to start accumulating to the ultimate long term target of $3-$5. Psychology is interesting because when Doge was at $.75 everyone was heard saying "if it goes to 10c or below one day i'll definitely buy some" and right now we have crickets and everyone is too poor. The only way retail dips its toes in dogecoin again is if it is wildly cheap to the point that $1 would equal ~200 doge. Retail doesn't even have $500 saved up for a rainy day fund, they aren't going to buy dogecoin until there's a massive crash where their dollar goes further. Currently $1 buys you 11 dogecoin - this ratio will change once doge crashes to .005.