{"id":389007,"date":"2024-05-03T03:30:09","date_gmt":"2024-05-02T22:00:09","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=389007"},"modified":"2024-05-02T17:49:59","modified_gmt":"2024-05-02T12:19:59","slug":"worried-about-dogecoins-30-drop-analysts-predict","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/worried-about-dogecoins-30-drop-analysts-predict\/","title":{"rendered":"Worried about Dogecoin&#8217;s 30% drop? Analysts predict&#8230;"},"content":{"rendered":"<ul>\n<li><em>DOGE&#8217;s current trajectory was similar to its pre-2017 and 2021 bull market phases.<\/em><\/li>\n<li><i>Several user cohorts were accumulating DOGE, possibly motivated by history.<\/i><\/li>\n<\/ul>\n<p>Much to the community&#8217;s relief, <a href=\"http:\/\/ambcrypto.com\/category\/dogecoin-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Dogecoin [DOGE]<\/a> started to trade in green, following a 2% gain in the last 24 hours of trading.<\/p>\n<p>The rebound served to ease DOGE holders&#8217; anxieties, since their portfolios had suffered nearly 16% loss over the week, and more than 32% in the last 30 days, according to data sourced from <a href=\"https:\/\/coinmarketcap.com\/currencies\/dogecoin\/\" target=\"_blank\" rel=\"noopener\">CoinMarketCap<\/a>.<\/p>\n<figure id=\"attachment_389078\" aria-describedby=\"caption-attachment-389078\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-market-sentiment.png\"><img decoding=\"async\" class=\"wp-image-389078 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-market-sentiment.png\" alt=\"DOGE market sentiment\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-market-sentiment.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-market-sentiment-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-market-sentiment-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-market-sentiment-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-market-sentiment-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-market-sentiment-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-market-sentiment-1200x406.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-389078\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p>And going by how the world&#8217;s largest <a href=\"http:\/\/ambcrypto.com\/category\/memecoins\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">memecoin<\/a> has historically performed, they could have more reasons to cheer.<\/p>\n<h4>History suggests incoming bull run<\/h4>\n<p>Prominent technical analyst and trader<a href=\"https:\/\/x.com\/ali_charts\/status\/1785808737090871513\" target=\"_blank\" rel=\"noopener\"> Ali Martinez<\/a> said that the ongoing price correction was part of DOGE&#8217;s &#8220;usual behavior&#8221; before embarking on massive bull runs.<\/p>\n<p>To substantiate his arguments, Martinez drew attention to two previous occurrences in 2017 and 2018.<\/p>\n<p>Back in\u00a0 2017, DOGE broke out of a descending triangle, then corrected 40% before exploding 982% towards new highs.<\/p>\n<p>Repeating the trajectory in 2021, DOGE broke out of a descending triangle, retraced 56%, and finally saw a parabolic 12,197% increase towards its all-time high (ATH).<\/p>\n<p>History was repeating itself in 2024 as DOGE came out of the descending triangle, and was in the middle of a corrective phase. Having satisfied the first two criterion, Martinez believed that conditions were ripe for a DOGE bull run.<\/p>\n<figure id=\"attachment_389041\" aria-describedby=\"caption-attachment-389041\" style=\"width: 2209px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-2024-prospects.jpg\"><img decoding=\"async\" class=\"wp-image-389041 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-2024-prospects.jpg\" alt=\"DOGE 2024 price trajectory\" width=\"2209\" height=\"1443\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-2024-prospects.jpg 2209w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-2024-prospects-300x196.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-2024-prospects-1024x669.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-2024-prospects-768x502.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-2024-prospects-1536x1003.jpg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-2024-prospects-2048x1338.jpg 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-2024-prospects-1200x784.jpg 1200w\" sizes=\"(max-width: 2209px) 100vw, 2209px\" \/><\/a><figcaption id=\"caption-attachment-389041\" class=\"wp-caption-text\">Source: @ali_charts<\/figcaption><\/figure>\n<p>While analyses and forecasts by reputed analysts do hold weight, it&#8217;s always advisable to DYOR before investing, more so for flaky assets like meme coins.<\/p>\n<hr \/>\n<p style=\"text-align: center;\">Realistic or not, here\u2019s\u00a0<a href=\"http:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">DOGE\u2019s market cap in BTC terms<\/a><\/p>\n<hr \/>\n<h4>DOGE holders dip-buying<\/h4>\n<p>It seemed that certain user cohorts were already aware of the historical equivalence. According to AMBCrypto&#8217;s analysis of Santiment&#8217;s data, addresses holding between 10 and 1 million DOGE were rose steadily while the price was declining.<\/p>\n<p>The accumulation underlined their belief in DOGE&#8217;s bull run and long-term value appreciation.<\/p>\n<figure id=\"attachment_389064\" aria-describedby=\"caption-attachment-389064\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-whale-accumulation.png\"><img decoding=\"async\" class=\"size-full wp-image-389064\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-whale-accumulation.png\" alt=\"DOGE whale accumulation\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-whale-accumulation.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-whale-accumulation-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-whale-accumulation-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-whale-accumulation-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-whale-accumulation-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-whale-accumulation-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/05\/doge-whale-accumulation-1200x406.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-389064\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analysts said that the ongoing price correction was part of DOGE&#8217;s &#8220;usual behavior&#8221; before embarking on massive bull runs.<\/p>\n","protected":false},"author":80,"featured_media":389045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,6387,5824,66,3,4,20],"tags":[6427,6425],"class_list":["post-389007","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-dogecoin-news","category-memecoins","category-new-news","category-news","category-social","category-trading-view","tag-ambcrypto","tag-featured"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Worried about Dogecoin&#039;s 30% drop? 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