Veröffentlicht von • Popular analyst Nicholas Merten suggests that Dogecoin (DOGE) could spark a rally by the end of this year or early 2024.
• To start accumulating DOGE, smart money will wait until it has reached 95% from its all-time high.
• Based on current levels, DOGE could drop as low as $0.25 before entering its next rally stage.
Dogecoin Could Enter Next Rally Stage Soon: Analyst
Analyst Nicholas Merten recently suggested that leading meme crypto asset Dogecoin (DOGE) could spark a rally by the end of this year or early 2024. According to Merten, smart money tends to accumulate altcoins like DOGE once they’re at a heavily discounted price and are about 95% from their all-time high.
How Low Can Dogecoin Drop?
Merten warns that other sizeable declines for the dog-themed memecoin may occur before it can spark a rally to the upside. If DOGE drops all the way down to 96.5%, then it could drop as low as $0.25 before entering its next rally stage. It could take all the way out into 2024, but the main point is around 95% discount mark which should indicate when smart money starts accumulating.
What’s The Price Of Dogecoin Now?
At time of writing, Dogecoin is trading for $0.062 – an increase of 1.5% during the last 24 hours according to CoinMarketCap data.
What Does This Mean For Investors?
Investors who are interested in investing in Dogecoin should be aware that there may be additional price drops before it reaches its next rally stage and they should do their due diligence before making any high-risk investments in cryptocurrency assets such as this one..
Disclaimer
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