What The Weekend Liquidation Event Meant For The Dogecoin Price, And What Could Happen Next

The Dogecoin price is back in the spotlight after a sharp price drop that has caught the attention of traders and analysts over the ￰0￱ to DOGECAPITAL’s analysis, the recent decline brought Dogecoin back to a key support level that has been important in the ￰1￱ Dogecoin price study compares the current situation to a time when the coin also dropped to this same level years ago and then began a strong ￰2￱ says this could again be a turning point for Dogecoin if the same pattern ￰3￱ Price Drops To Historic Support After Weekend Liquidation Event DOGECAPITAL reports that a major liquidation event over the weekend pushed Dogecoin ($DOGE) sharply ￰4￱ notes that the Dogecoin price fall brought it right down to the lower green line shown on its chart, a level that has a special place in the coin’s ￰5￱ Reading: Why The Dogecoin Price Could Surge 3,690% To $9.8 This Bull Cycle According to DOGECAPITAL, this same level was last seen on March 13th, 2020, during the COVID crash, a time when fear gripped the entire financial ￰6￱ moment marked what the analysis calls the Cycle 2 bottom, the point from which Dogecoin began one of its biggest rallies ever ￰7￱ of this history, the analyst views the current price level as more than just another ￰8￱ now, the analyst’s focus is on how the Dogecoin price reacts around this ￰9￱ the coin can stay above this support area, it could build strength again and prepare for a new run ￰10￱ Sees Potential For A Major Upside If History Repeats Itself DOGECAPITAL points out that the last time Dogecoin reached this same support level, the results were ￰11￱ hitting that low in 2020, Dogecoin went on to surge roughly 540 times over the next 420 ￰12￱ rally took the coin from that lower green line all the way up to the upper green line, where it peaked for that ￰13￱ Reading: Market Expert Reveals Why The Bitcoin Price Will Never Stop Going Up In its current view, DOGECAPITAL believes that a similar setup could be forming again for the Dogecoin ￰14￱ to DOGECAPITAL’s study, the coin might be entering a new recovery phase, building momentum before making a more decisive move upward later ￰15￱ the current Dogecoin price action may seem weak on the surface, DOGECAPITAL’s study suggests it could actually be preparing for another strong upward ￰16￱ suggests that traders across the market are now closely watching for signs of strength that could confirm this ￰17￱ analyst remembers how quickly Dogecoin moved from being undervalued to becoming one of the top-performing coins in past ￰18￱ the Dogecoin price can turn this drop into a base for growth, it might be the start of another big bullish cycle that brings new excitement back to the Dogecoin ￰19￱ image created with Dall.

E, chart from ￰20￱