The Dogecoin (DOGE) price has continued to trend downwards, fueled by general weakness in the meme coin market and a lack of sustainable bullish catalysts. Due to its poor performance, market sentiment has been in the dumps for months.
However, a crypto analyst has noted that this period of prolonged consolidation and negativity occurs before every major expansion phase. He points to a chart, noting that Dogecoin’s price structure still looks dangerous, as he expects the meme coin to stage a potential rally that could catch many investors off guard.
Dogecoin Chart Mirrors Past Expansion Cycles
Market analyst Cryptollica is warning investors and traders not to sleep on Dogecoin after identifying a recurring cycle pattern that has preceded every major DOGE bull rally since 2021.
In an X…
more
Source www.tradingview.com
Terms of use and third-party services. More here.