Dogecoin Price May Drop 40% Before Potential 400% Rally
Dogecoin's price is currently at $0.158, down 0.35% in the last 24 hours and 2.02% over the past week. Attempts to break key resistance levels have failed, with a low of $0.149 reached before a slight recovery.
Price Predictions
- Analysis from SwallowAcademy suggests Dogecoin may drop 40% to around $0.09 before potentially rising 400% to $0.45.
- Predicted trend includes a spike early 2024 peaking near $0.23 followed by a decline mid-year.
Market Patterns
- Trader Tardigrade identifies a "false break" pattern since December 2024, indicating a potential end to the downtrend.
- If prices hold above support, a bullish reversal aiming for $0.42 could occur.
Holder Behavior
- Long-term holders (over 1 year) lost 2.65% last month; mid-term holders lost 12%.
- Short-term holders (under 1 month) gained 107%, reflecting increased speculative demand.
- Large holders show growing interest, with inflows up 5.30% weekly and 324% monthly.