Is Dogecoin Mirroring Pepe? A Drop To $0.2 Could Be Imminent For DOGE
Dogecoin has received additional attention from investors, especially since Donald Trump has taken office and let Elon Musk be responsible for Doge. However, this interesting relationship is not particularly reflected in The price of the dealershipEssence
In fact, the coin market has been standing out of the liquidity extension of the Trump token and other political token. According to the data of Coingecko, the market value is about 93.5 billion US dollars, which reflects the decline in the past day by nearly 10 %.
Has Doge’s horizon dropped by 35 %?
In a recent article on the X platform, the famous encrypted analyst Ali Martinez reveal These two largest cause token (Dogecoin and PEPE) show high correlation. Crypto experts point out that the price of dogs seems to reflect the price of PEPE.
Two token cards follow similar price trajectories, especially when they belong to the same market category (such as Dogecoin and PEPE). Although the price of the governor cannot be guaranteed to reflect the price of PEPE, this seems to provide insights for the future trajectory of the former.
According to Martinez, if you do follow PEPE, you can make in -depth corrections at the price of dog coins. This decoction forecast is based on the loss of the key support level, about $ 0.000017 PEPE price By the end of February.
PEPE’s price has dropped sharply to about $ 0.000011 (more than 35 %). The support area is around $ 0.31 on the Dogecoin chart. It has provided a cushion for Doge prices many times in the past.
However, if a similar price model appears on its four -hour chart, the price of Dogecoin may drop to about 0.2. Because the region does not have significant support to buffer this downturn, the price of the governor may suffer more seriously.
Dogecoin price overview
When writing, Gate price About $ 0.305 reflects more than 3 % of the past 24 hours. This single -day performance emphasizes the struggle of coin in recent weeks, which has fallen by nearly 12 % in the past seven days.
After reaching a local high of 0.46 US dollars in early December, the price of Dogecoin fell to about $ 0.26 in less than three weeks. However, the main movement of the chin token is still hovering in areas of $ 0.35.
