Since January 18, the price of Dogecoin has dropped by more than 35% due to the overall market volatility. This decline has raised doubts about whether the price increase phase of this meme currency has ended or not. Analyst Alan believes that the price of Dogecoin is still in a bull market and may lead to a significant price increase.
Dogecoin price faces a 40% drop amid market volatility
Notably, the price of Dogecoin has dropped sharply by about 40% since mid-January as the cryptocurrency market in general has witnessed significant volatility.
This decline is part of a larger pattern of volatility in the altcoin space, as some digital assets are also facing similar challenges.
Therefore, the market adjustment and significant price drop recently have made Dogecoin investors more cautious about the future growth prospects of this currency.
An analyst believes that the recent price decline is only temporary but will last until the overall cryptocurrency market stabilizes.
Analyst Alan asserts that DOGE is still in the stage of price increase
According to trader Alan, the price of DOGE is still on an upward trend despite the current pullback phase.
Historical data from previous price increases shows that after price adjustments, the value of this cryptocurrency has increased significantly.
Alan described this period as the "DOGE season" because Dogecoin often experiences rapid growth after short price corrections.
Source: X
Furthermore, Alan's historical data indicates that short-term difficulties with the price of Dogecoin do not cause long-term damage to the long-term price prospects of this currency.
The trader argues that DOGE is currently in a short-term retreat phase and if history repeats itself, a revival may be imminent.
According to Alan, the key is to recognize the pattern and take advantage of the current market conditions before Dogecoin starts its next significant price increase.
Historical models show an increase to $2.2.
Furthermore, although Alan does not mention the next target, looking at the historical trends and chart, the price of Dogecoin could soon reach as high as $2.2.
This figure is up more than 700% from the current price of 0.2559 dollars. Alan relies on his market predictions from previous cycles, where Dogecoin has surged in a rising market environment.
Historical market data shows that Dogecoin's price surged 8,800% during the bull market of 2017-2018, while the bull run of 2020-2021 led to an increase of nearly 28,000%.
According to Alan's assessment, Dogecoin will continue and repeat the price increase in the past.
Although the $2.2 target seems ambitious, historical data shows that such a sharp increase is entirely possible.
Another analyst, Javon Marks, recently speculated that Dogecoin could reach as high as $2. This only adds to the optimism surrounding the future of this meme coin.
To further strengthen the prospect of price increase, recent analyzes show that Dogecoin price still maintains a key support level above $0.25, with forecasts indicating the price could spike to $4.10.
Technical indicators emphasize positive momentum, with strong buying pressure preventing significant declines. Whale accumulation and the decreasing price pattern reinforce confidence in DOGE's upward trajectory.
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Has the price of Dogecoin reached 2 dollars? Analysts say the DOGE season is far from over
Since January 18, the price of Dogecoin has dropped by more than 35% due to the overall market volatility. This decline has raised doubts about whether the price increase phase of this meme currency has ended or not. Analyst Alan believes that the price of Dogecoin is still in a bull market and may lead to a significant price increase. Dogecoin price faces a 40% drop amid market volatility Notably, the price of Dogecoin has dropped sharply by about 40% since mid-January as the cryptocurrency market in general has witnessed significant volatility. This decline is part of a larger pattern of volatility in the altcoin space, as some digital assets are also facing similar challenges. Therefore, the market adjustment and significant price drop recently have made Dogecoin investors more cautious about the future growth prospects of this currency. An analyst believes that the recent price decline is only temporary but will last until the overall cryptocurrency market stabilizes. Analyst Alan asserts that DOGE is still in the stage of price increase According to trader Alan, the price of DOGE is still on an upward trend despite the current pullback phase. Historical data from previous price increases shows that after price adjustments, the value of this cryptocurrency has increased significantly. Alan described this period as the "DOGE season" because Dogecoin often experiences rapid growth after short price corrections.
Source: X Furthermore, Alan's historical data indicates that short-term difficulties with the price of Dogecoin do not cause long-term damage to the long-term price prospects of this currency. The trader argues that DOGE is currently in a short-term retreat phase and if history repeats itself, a revival may be imminent. According to Alan, the key is to recognize the pattern and take advantage of the current market conditions before Dogecoin starts its next significant price increase. Historical models show an increase to $2.2. Furthermore, although Alan does not mention the next target, looking at the historical trends and chart, the price of Dogecoin could soon reach as high as $2.2. This figure is up more than 700% from the current price of 0.2559 dollars. Alan relies on his market predictions from previous cycles, where Dogecoin has surged in a rising market environment. Historical market data shows that Dogecoin's price surged 8,800% during the bull market of 2017-2018, while the bull run of 2020-2021 led to an increase of nearly 28,000%. According to Alan's assessment, Dogecoin will continue and repeat the price increase in the past. Although the $2.2 target seems ambitious, historical data shows that such a sharp increase is entirely possible. Another analyst, Javon Marks, recently speculated that Dogecoin could reach as high as $2. This only adds to the optimism surrounding the future of this meme coin. To further strengthen the prospect of price increase, recent analyzes show that Dogecoin price still maintains a key support level above $0.25, with forecasts indicating the price could spike to $4.10. Technical indicators emphasize positive momentum, with strong buying pressure preventing significant declines. Whale accumulation and the decreasing price pattern reinforce confidence in DOGE's upward trajectory.