Forget $1, Dogecoin (DOGE) Price Can Drop to 8 Cents Before Resuming Bull Run
Release: 2024/06/26 20:49 Reading: 443
- Original author：Coingape News Media
- Original source：https://coingape.com/?p=204463
Despite a significant meme coin rally, Dogecoin (DOGE) has underperformed compared to its competitors. Its price remains stable around $.12, making it less appealing than other meme coins like Dogwifhat (WIF) and PEPE Coin.
Crypto analyst Kaleo predicts a potential 30% retracement for DOGE before it resumes its bull run.
Timeline for DOGE to Reach $1
Kaleo explains that for much of its 10.5-year existence, DOGE has traded sideways or declined. For approximately 9.5 years, it has shown limited price movement, experiencing only one significant rally.
Similar to previous sideways periods, DOGE has been consolidating for nearly two months following the recent Bitcoin halving. Historically, Dogecoin has consolidated for 8-9 months after Bitcoin halving before experiencing a surge.
Based on this trend, a significant price breakout for DOGE is unlikely until December 2024 or February 2025.
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