The popular cryptocurrency based on memes, Dogecoin (Doge) has just seen a spectacular slowdown that makes investors wonder about its future course.
Pushed by the volatility of the Bitcoin market (BTC), the Doge value dropped by around 20% in last week. DOGE is currently negotiated at $ 0.2,551; Its market value is $ 38.09 billion and its negotiation volume is $ 3.42 billion.
Whale accumulation points out the trust investor
The data on the chain show that despite the current slowdown, large investors – often called “whales” – have seized the possibility of raising large amounts of Doge.
The whales specifically accumulated 750 million units in the room even during this slowdown. Generally preceding large price oscillations, this large accumulation shows a strong conviction in the long -term possibilities of Dogecoin.
The current price of $ 0.25 is an ideal opportunity for investors ready to overcome the wave of a possible recovery, according to some analysts, while others think that DOGE could drop at around $ 0.17.
Dogecoin: Historical models indicate potential growth
Analysts claim that the current feeling of the Dogecoin market reflects its 2017 bull cycle. In addition to similar corrections during this period, rallies have led to new peaks of all time.
If this historical model is correct, Doge may have reached its local hollow and is preparing for a significant ascent. The technical indicators also reveal indices of accumulation and possible reversals of trends, thus supporting this positive vision.Market feeling and future perspectives
The possible return of Doge depends a lot on the general attitude of the Bitcoin market. If Bitcoin sets up and the mood of the market changes, Dogecoin could be set to a significant increase.
The recent growth of whales and historical evaluations support this idea. Investors are looking at the market closely, expecting Doge to find its high previous prices and may reach new records.Temporary hiccup for Doge?
Investors may worry about the recent drop in the price of Dogecoin, but there are other things to consider. Factors such as large investors buy more, previous price models and potential market stability indicate that this decline could lead to a strong recovery.
As usual, investors must be careful and undertake in -depth research before choosing what to buy.
But a change in the atmosphere of the general market or higher demand could contradict negative opinion, therefore monitoring the price movement in the following weeks is very important to decide on its main management.
Dogster star image, tradingview graphic