Dogecoin° has shown tremendous price strength over the past few weeks, breaking through key resistance levels and sparking optimism about its short-term performance. This upward momentum could see significant price action, with a pullback predicted in the coming days.
Dogecoin’s current and past price action following its recent rally. After a thorough study, market experts revealed the alarming price trends, which means the dog-themed meme° coin could see two key pullbacks in the near term.
There have been patterns of two past market cycles that show repeated sharp correction phases before heating up again, suggesting similar price action is at play in the current bull cycle.
The meme coin experienced two major corrections of approximately 40% and 84% during its 9,470% rally in the 2017 bull cycle. Furthermore, the same pattern was observed during the parabolic phase of 2021, where Dogecoin’s price surged by more than 30,700% but experienced two notable corrections of 46% and 53%. Given that DOGE is currently showing huge bullish pressure and is considered to be the next bull run, history may repeat itself and the digital asset may face two key corrections as it rises to key levels. “We are preparing for another parabolic run and remember that adjustments are part of the journey,” he said. As expected, these dips may serve as areas of consolidation for the digital asset, allowing DOGE to stabilize and potentially strengthen its course for a further rally.
So far, patience and faith are two essential factors for investors who hope to become millionaires through Dogecoin, while noting that there is no need to panic over the recent 13% drop.
Dogecoin price action on a shorter timeframe, Dogecoin price could be about to surge 45% due to the formation of a bull flag pattern, if the $0.35 support level holds, experts claim that the pattern could trigger a price action of $45 with the target of reaching the $0.56 mark.
Retail investors’ perception of DOGE is better than Bitcoin. Despite a possible pullback, Dogecoin still attracts more retail investor interest than the largest crypto asset Bitcoin. Despite a possible pullback, Dogecoin still attracts more retail investor interest than the largest crypto asset Bitcoin, as evidenced by a recent poll on the most ideal asset to invest $100 in the current market stage.
After receiving 83% of the votes against, retail investors tend to choose DOGE over Bitcoin. As Bitcoin is often considered expensive, DOGE has attracted attention as an alternative and cost-effective option with profit potential. In particular, it has received support from famous business tycoon and billionaire Elon Musk.
