No more pain to come for Doge?

Tl; DR

• The big holders have dropped 270 million Doge ($ 70 million) in the last 24 hours, increasing the supply and the signaling potential is still decreasing if demand is not continuing.
• However, some analysts have predicted a possible recovery based on the historic Dogey models.

Dogery strongly bleeds

Donald Trump’s latest actions have apparently had an overwhelming effect on the cryptocurrency sector. Remember that the The American president imposed major prices on China, Canada and Mexico, follow up by brutal correction for most of the most important digital assets.

The room even OG – DOGECOIN (DOGE) – was among the most affected, its price falling up to $ 0.21 (according to Coingecko data). When writing these lines, it is negotiated at around $ 0.25, a decrease of 16% per day.

Although the Bulls hope that it will be a temporary correction which can be followed by another rally, certain measures suggest that the bears could prevail in the short term.

Popular analyst Ali Martinez revealed On X, whales sold 270 million DOGE (worth almost $ 70 million at current rates) in the last 24 hours. Actions of this type increase the offer in circulation of assets, which means that the price could go south (assuming demand does not capture rhythm). In addition, small players could interpret this as a worrying sign and join the sale.

Martinez several hours ago note The fact that DOGE experienced a lowering crossing between the market value / value ratio made (MVRV) and its simple mobile average at 30 days. According to him, this indicates “a strong correction of the upcoming prices”.

Doge price predictions

Despite the crash, several market observers remain optimistic that the meme piece could soon return to the green track. An example is the X trader Tarden Tardigrade, which foreseen A major Resurgence based on the historical performance of the assets.

“In the 2016 withdrawal, DOGE retraced 59.76%, followed by a Bull Run of + 9,221%. In the 2020 decline, DOGE traced 56.2%, followed by a Bull Run of + 30,693%. If in doubt, check the macro graph, ”said the analyst.

Kaleo and Crypto Tony also chipped. The first describe The current price level as “a solid and practically free entry compared to the place where we will see in a few months”.

For their part, Crypto Tony claimed They are waiting for a potential thrust at $ 0.34 so that they can jump on the train as an investor.