TL;DR<\/p>\n
Dogecoin experiences a 10% weekly price decline after the recent bull run, following a broader market correction.
\nPredictions for DOGE\u2019s price include significant increases, with discussions on its potential for reaching new ATH.<\/p>\n
<\/span><\/p>\n Dogecoin (DOGE) is among the worst-affected cryptocurrencies (from the top 10 list) from the latest market correction, with its price tumbling by 10% weekly. Recall that several days ago, the situation was completely different, and the valuation of the meme coin surged above $0.22 for the first time since November 2021.<\/p>\n Numerous analysts believe DOGE will soon rebound and rally towards new peaks. One example is the crypto content creator using the X handle Trader Tardigrade, who recently\u00a0<\/span>claimed<\/span> that Dogecoin runs the \u201cCycle of 7 years.\u201d They compared the asset\u2019s price performance with the one from years ago to set $2, $9, and even $40 as future price tags:<\/span><\/p>\n \u201cWe can see a similar price action in the first half of the current cycle, compared to that of last cycle. When we were at $0.0007 in 2017, we never believed DOGE would spike to $0.003, $0.009 & $0.35. Today we are at $0.22, we won\u2019t believe DOGE will be $2, $9 & $40. Don\u2019t miss the opportunity. History repeats.\u201d<\/span><\/p>\n<\/blockquote>\n Another crypto enthusiast with half a million followers \u2013 Mayne \u2013 touched upon the asset\u2019s current market performance and envisioned two possible scenarios. DOGE could lose support at around $0.18 and enter a \u201cmuch larger correction, or bulls may step in and \u201cthe party continues.\u201d<\/span><\/p>\n $DOGE<\/p>\n Big spot here for Doge imo.<\/p>\n Bulls really want this area to hold, I think losing support here opens the door for a much larger correction.<\/p>\n RR skewed positively for longs, if we hold and can reclaim that old high the party continues. pic.twitter.com\/HgSX60XuXv<\/p>\n \u2014 Mayne (@Tradermayne) April 3, 2024<\/p>\n<\/blockquote>\n Previously, Rekt Capital and the early Bitcoin adopter Davinci Jeremie outlined bullish forecasts, too. The former <\/span>argued<\/span> that DOGE could rally toward $0.30 due to the beginning of a new \u201cmacro trend,\u201d while the latter <\/span>opined<\/span>\u00a0that the meme coin is an asset investors should have in their portfolios.<\/span><\/p>\n\n
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