Is a Big Rally Coming for Bitcoin and Dogecoin? The Indicator That Knows the Previous Risings Burned!
Release: 2024/05/02 21:34 Reading: 801
While the gradual decline in Bitcoin that started in April continues into May, investors are eagerly anticipating the commencement of a substantial bull rally.
At this juncture, renowned analyst Ali Martinez has informed investors that the MVRV ratio for BTC is indicating a potential bottom.
The analyst explained that every instance when the MVRV ratio has fallen below 9% has been followed by significant gains. Notably, the BTC MVRV ratio currently stands at 11.6%.
According to the analyst, if history repeats itself, the MVRV ratio is signaling a bottom and a subsequent rise in Bitcoin's price.
Drawing from historical data, the analyst highlighted that in the past three instances when the MVRV ratio dipped below 9%, the Bitcoin price surged by 64%, 63%, and 99%, respectively.
“The last three times over the last two years when Bitcoin's 30-day MVRV fell below 9%, the BTC price increased by 64%, 63% and 99% respectively. The 30-day MVRV on BTC currently stands at 11.6%. This suggests it may be time to buy the dip!”
The last three times the #Bitcoin 30-day MVRV dropped below -9% in the last two years, the price of $BTC surged by 64%, 63%, and 99%, respectively. The #BTC 30-day MVRV is currently at -11.6%, suggesting it may be time to buy the dip! pic.twitter.com/Q85skH7Hyj
— Ali (@ali_charts) May 1, 2024
“Dogecoin is undergoing a pre-rally correction!”
The analyst, who has studied the historical price movements of Dogecoin, has suggested that the current price correction for DOGE is consistent with its typical behavior prior to substantial bull runs.
After examining DOGE's price movements in 2017 and 2021, the analyst observed that on both occasions, DOGE broke out of a descending triangle pattern and experienced significant pullbacks before embarking on bull runs.
The analyst pointed out that DOGE has recently broken out of a descending triangle and has experienced a 47% pullback, indicating that it may be preparing for a significant rally.
“In 2017, DOGE broke out of the descending triangle. DOGE then retreated 40% before entering a 982% bull run! In 2021, DOGE broke out of the descending triangle again. Then, DOGE pulled back 56% before skyrocketing 12,197%! Now, in 2024, DOGE has broken out of the descending triangle once again! It is currently undergoing a 47% price correction, very similar to previous cycles, and this could spark the next DOGE bull run!”
Now, in 2024, #DOGE has yet again broken out of a descending triangle! It is currently undergoing a 47% price correction, very similar to previous cycles, which could ignite the next $DOGE bull run! pic.twitter.com/ZmuHmvIwei
— Ali (@ali_charts) May 1, 2024
*This is not investment advice.
Continue Reading: Is a Big Rally Coming for Bitcoin and Dogecoin? The Indicator That Knows the Previous Risings Burned!
Recent news
More>- Historic Milestones: Bitcoin approaching $100,000 and Pepe Unchained secures over $52 million in presale 11-27
- UK’s financial regulator to implement final crypto rules by 2026 11-27
- Dogecoin’s Dogebox Will Revolutionize Everyday Transactions in 2025 11-27
- From Dogecoin to Dogen: The 10,000% Rally Everyone Is Talking About! 11-27
- Bets.io – one of the most wonderful and safe online crypto-casinos 11-27
- This week’s crypto opportunities: Buy signals for XRP, LINK, and XYZ 11-26
- Trump’s Pet Pepe (TRUMPEPE) Solana Memecoin Will Rally 18,000% Before Exchange Listings, As Shiba Inu and DOGE Lag 11-26
- Analyst Predicts This Layer-2 Meme Coin Could Surge 150X at Launch 11-26
- Base, the Ethereum-base L-2 network, reached an all time high by hitting over 9.2M in daily transaction count 11-26
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com