Behind the crazy rise of Dogecoin: Analysts warn of short-term correction, how should investors respond?
In recent weeks, the price of Dogecoin has been rising rapidly, breaking through several difficulties, and everyone in the market is happy. However, cryptocurrency analyst Ali Martinez reminds everyone that the rise is too fierce and may have to be corrected.
Martinez looked through the history of Dogecoin and found that after each big rise, it had to fall. For example, in 2017, Dogecoin rose by 9470%, but it fell twice, once by 40% and once by 84%. In 2021, it was the same, rising by 30700%, and then falling by 46% and 53%. From this point of view, Martinez thinks that after Dogecoin rises this time, it will fall twice.
Although this correction sounds a bit unpleasant, Martinez still said that everyone should not be anxious, but be patient and have confidence. Especially with the recent 13% drop, don't panic. He said that only by being patient can you wait for Dogecoin to rise in the long term and really make money.
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