Analyst Scared: Dogecoin Will See Disastrous Levels This Date! - News-Credit-Mortgage-Coin


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Monday, June 28, 2021

Analyst Scared: Dogecoin Will See Disastrous Levels This Date!


Earlier this year, Dogecoin (DOGE) started to gain momentum, with tweets from Tesla CEO Elon Musk and support from his developer team. Meme-coin hit all-time highs of $0.73 in April. However, DOGE, which has been on a slow decline since then, saw the levels of $ 0.17 on June 22, when Bitcoin also fell below $ 30,000. DOGE, which is trading at $0.26 at the time of writing, is 65% below its record level. An analyst has predicted the next low, noting the dates when DOGE hit these lows and highs.

Analyst studied Dogecoin cycles

Analyst Valdrin Tahiri compared the market bullish cycle, Dogecoin's price movements and the current situation in 2015-2018. The analyst emphasized that the severity of the upward cycle in 2020 is much higher.

Since its launch, DOGE experienced its first ascent in May 2015. Its rise on that date took 973 days and in January 2018, the high of that cycle at $0.0187 was reached. The analyst states that this rise compared to the previous low indicates an increase of 21,821 percent. The ensuing period of decline lasted 798 days. DOGE saw its lowest level ($0.00134) in this period in March 2021 and fell 93 percent. Thus, according to the analyst, the first cycle is complete. As we reported as, on this date, investors were selling heavily with the coronavirus panic.

Analyst: DOGE will reach lowest level in May 2022

Tahiri noted that the current cycle is faster than the previous one. The DOGE price experienced an increase of almost 55,000 percent in 420 days. While this acceleration was four times greater than seen in 2016, it happened faster. With this rise, an all-time high was seen. The analyst states that if there is a correction similar to the first cycle, the price could see the $0.054 low. Again, considering the periods in the previous cycle, he predicts that this low level can be seen in May 2022.

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