Dogecoin (DOGE) is known for always being at the top of meme coins. Recently, it has also been affected by the market pullback due to the decline in Bitcoin prices. Despite this, analyst Ali Martinez indicated that if historical trends repeat, DOGE could rise in the coming days.
How Much Will Dogecoin Be Worth?
Crypto analyst Ali Martinez examined data provided by Santiment and noted that the current outlook for Dogecoin parallels that of February. The Weighted Sentiment view in Santiment data shows a negative 0.828 for Dogecoin. This figure is significantly lower than the 2.1 seen at the end of March. It was also observed that this value declined in parallel with the Dogecoin price.
As of the time of writing, DOGE is trading at $0.1584 after a 2.5% drop in the last 24 hours. This price change indicates a 4% drop over the past 7 days. However, a review of the last 30 days shows a different trend, with a price increase of over 20%.
Martinez, while not paying much attention to the recent price drop, pointed out that Dogecoin could rise in the future by repeating its historical price movements. He recalled that in early February, DOGE sentiment was also at low levels, but in the following weeks, the price rose by over 200%.
If this situation repeats, Dogecoin could rise above $0.20, as seen in the last 30 days. However, there is a significant obstacle ahead of this process.
Since its inception, DOGE has been observed to decline in June. Data provided by Cryptorank also shows that Dogecoin has experienced a decline every year since 2017.
Dogecoin Comments
Discussions on how DOGE can rise continue in the market. It is believed that the group known as Doge Army might trigger this process. Additionally, there are daily news reports about Dogecoin being integrated into payment systems, which could have a significant impact in the future.
Another key figure that DOGE investors trust is none other than Elon Musk. If the rumor that DOGE could be included in X Payments becomes a reality, it could trigger a major process in the future.
