Dogecoin

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/crypto-strategist-warns-of-potential-dogecoin-decline-despite-bitcoin-surge/" data-wpel-link="internal">Crypto Strategist Warns of Potential Dogecoin Decline Despite Bitcoin Surge</a> 
A crypto strategist known for not supporting crowd-endorsed price movements warns that Dogecoin (DOGE) might decline even if Bitcoin (BTC) reaches all-time highs. 
<h2 style="text-align: justify" id="analyst-s-doge-commentary">Analyst’s DOGE Commentary</h2> 
Credible, a well-known analyst in the market, made significant statements on social media platform X. He shared with <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> how DOGE might experience a decline regardless of the next move on the BTC side. 
According to the analyst, there are two main ways a meme coin like DOGE can be rejected and lose value: 
<ol> 
 <li>BTC gets rejected and loses blood.</li> 
 <li>BTC creates such a big and strong impulse candle that the collective attention of the <a href="https://newslinker.co/category/science/space/" target="_blank" rel="noopener" data-wpel-link="exclude">space</a> shifts to BTC for a while, and liquidity starts flowing from other 10,000,000 altcoins (DOGE being one of them) to BTC…</li> 
</ol> 
As has been experienced from past to present, while some projects are expected to be exceptions in the outflow of liquidity from some altcoins, some projects are expected to be more affected than others. 
Last week, Credible stated that BTC could make a sharp price movement towards $100,000 in the future. In such a scenario, the analyst noted that investors might liquidate their altcoin holdings to participate in the BTC rally. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-357493" src="https://coin-turk.com/wp-content/uploads/2024/05/ali-matinez-coin-turk-com.png" alt="" width="1035" height="349"> 
Another well-known market analyst, Ali Martinez, continues to closely follow the leading <a href="https://en.coin-turk.com/meme-coin-craze-attracts-investors-in-crypto-market/" data-wpel-link="internal">memecoin</a>. According to Martinez, there is a possibility of encountering strong resistance in Dogecoin, but if DOGE bulls can surpass the $0.171 area, the memecoin could see a 100% increase. 
<blockquote> 
 Dogecoin encounters significant resistance between $0.166 and $0.171, where about 10 billion DOGE are held by 75,500 addresses. However, once this barrier is overcome, DOGE will have the potential to double, with the next key resistance around $0.322. 
</blockquote> 
<h2 style="text-align: justify" id="current-doge-price">Current DOGE Price</h2> 
At the time of writing, DOGE was trading at $0.1649. This occurred after a 1.32% decline in the last 24 hours. The 1.28% drop in DOGE over the past 7 days has also not gone unnoticed. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-357491" src="https://coin-turk.com/wp-content/uploads/2024/05/doge-usdt-coin-turk-com-1.png" alt="" width="2433" height="1145"> 
DOGE’s market cap has fallen to $23.7 billion following the price drop, positioning it 8th on the Coinmarketcap ranking. 
When examining the 24-hour trading volume, an increase was noticeable. DOGE’s 24-hour trading volume rose by 12%, reaching $1.5 billion. This increase in trading volume despite the price drop has also sparked short-selling rumors. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/crypto-strategist-warns-of-potential-dogecoin-decline-despite-bitcoin-surge/" data-wpel-link="internal">Crypto Strategist Warns of Potential Dogecoin Decline Despite Bitcoin Surge</a></h5>

Crypto Strategist Warns of Potential Dogecoin Decline Despite Bitcoin Surge

Table of Contents

COINTURK NEWS

Other articles published on May 30, 2024

Bitcoin traders brace for US macro data with BTC price stuck at $67K

How Tonkeeper’s Gasless USDT Feature Could Influence TON Adoption

Pepe's $7B Milestone Hints At Trends To Watch In Digital Assets: Here's What A Whale's Holding Is...

Ethereum News: Largest Singapore Bank Bags $200M Profit With Major ETH Investment

Breaking News: Do Kwon and Terraform Labs Settle SEC Fraud Case

Galxe Introduces New Layer-1 Blockchain “Gravity”

Join our free newsletter for daily crypto updates!