Despite the current difficulties of the Dogecoin prices, a market analyst believes that the memes part is still in the season of bulls, anticipating another race.
Notably, Mastiff played terribly on the back of Turbulence on a market scale which has seen several altcoins tumble. DOGE collapsed by almost 40% since January 18, when the market began to observe the drops after a few days of upward trend.
Dogecoin still in “season doge”
Nevertheless, this turbulent period is only temporary, according to the commentator of renown Trader Alan. Interestingly, the analyst is convinced that Dogecoin is still negotiating during his bull season in the midst of price titles, which suggests that a period of resurgence is imminent.
In his last reportAlan suggested that the same play is still in what he calls the “Doge season”, urging investors to take it seriously. “You cannot continue him once he starts to move,” Alan joked, now involving the right time to enter the market.
He supported these perspectives with 3 -day Dogecoin table data, with historical data apparently confirming his feelings. In particular, Dogecoin seems enter In a period when she witnesses Extreme price explosions during a Bull Run. Alan calls for this period the “Doge season”.
Historical Dogecoin performance
The first time that has arisen during the Bull Run on the 2017/2018 market scale. Meanwhile, Dogecoin joined a price of $ 0,000,21 in February 2017 to a peak of $ 0.0187 in January 2018. This marked an increase of 8,804% within a year.
After that, Dogecoin has become a victim of the drop in the wider market as Season of Bear Tented from 2018 to 2020. For the context, the memes piece abandoned the previous peak of $ 0.0187 Since January 2018, collapse at a hollow of $ 0.00266 by November 2020.
Interestingly, while the Haussier market resurfaced at the end of 2020, Dogecoin again slipped into the “Doge season”. More specifically, the Altcoin joined $ 0.00266 in November 2020 at the last $ 0.74 summit in May 2021. It was a more substantial increase of 27,719%, supported by social mentions from social mentions from the social mentions of social mentions from the social mentions of the social mentions of CEO of Tesla, Elon Musk,.
After the summit of $ 0.74, another bear market followed, with Dogecoin to collapse at a floor price of $ 0.0569 by October 2023. However, the asset entered In A third season Doge Since Last November, by organizing a massive recovery following the American presidential election.
DOGECOIN RETACEMENT only temporary?
Now, with Dogecoin facing a retracement, Alan insists that the Doge season is not yet over. An interesting fact is that the current decline in the face of the medal of the same was also present in the two previous cases of the Doge season. However, after a few weeks of slowdown, Dogecoin recovered from new heights.
Alan is based on this, suggesting A The rehearsal is in preparation. Although it does not specifically mention a price objective, the graphic data shows a potential thrust towards the price bar of $ 2.2. This would represent an increase of 3,766% compared to the floor of October 2023 of $ 0.0569, below the previous rallies.
In particular, other analysts have also projected that Dogecoin reached $ 2.2. Last month, Javon Marks suggested An uppercases at $ 2.29 was imminent. Currently, Dogecoin changes hands to $ 0.2544, requiring an increase of more than 764% to reach the price level of $ 2.2.
Difles: This content is informative and should not be considered financial advice. The opinions expressed in this article may include the author’s personal opinions and do not reflect the basic opinion of cryptography. Readers are encouraged to do in -depth research before making investment decisions. The Crypto Basic is not responsible for financial losses.