Dogecoin’s Market Slump Could Be Ending, Suggests Analyst: ‘The Worst Should Be Over If We’re In Line With Previous Cycles’

Influential cryptocurrency trader Kevin Shared analysis on the current market correction Dogecoin DOGE/USDThis suggests that if this pattern continues through previous cycles, the worst may be over for the meme coin champion.

what happened: Kevin appeared on X Sunday to share his views on Dogecoin’s ongoing market correction, noting that during the last bull run, Dogecoin experienced three 50-60% corrections before hitting a macro peak.

Currently, Dogecoin is seeing a 60% correction, and according to him, if the pattern is consistent with previous cycles, it could signal that the worst is over, but he also warned that the bullish story could be invalidated. Bitcoin BTC/USD We have reached a peak and are entering a longer bear market.

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Why is this important: Kevin’s analysis comes at a time when Dogecoin and the cryptocurrency market as a whole is experiencing a steep decline due to concerns over a potential multi-billion dollar Bitcoin sell-off. Last week, the original dog-themed coin saw its value drop by 19.77%.

But some experts remain bullish on the company’s long-term potential. Timothy Peterson He predicted that Dogecoin will soar to $1 in the next two years, ten times its current value.

Price Action: At the time of writing, DOGE is trading at $0.1026, down 8.63% over the past 24 hours. Benzinga Pro data.

Photo credit: Shutterstock.com

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