Are You Waiting for a Dogecoin Jump? 2024 Price Action Reflects Past Cycles #DOGE

Since last week, the cryptocurrency market has witnessed a major correction following the US Federal Reserve’s interest rate cut and Bitcoin’s drop below $95,000. The selling in the meme market accelerated due to its volatile nature, leading to a significant decline in assets like DOGE and SHIB. However, crypto analysts point out that Dogecoin’s price decline mirrors the parabolic bull run that occurred in 2017 and 2022, suggesting that a future rally could be imminent.

Dogecoin Price and Performance

According to Coinmarketcap, the popular dog-themed meme coin is trading at $0.32, with a daily gain of 3.32%. Meanwhile, the asset’s market cap stands at $47 billion, while its 24-hour trading volume is hovering around $4.16 billion.

Main highlights

History Repeating? Dogecoin Parabolic Bullish Prediction Targets $17.9

Dogecoin, the popular meme-themed cryptocurrency, appears to be repeating its historical parabolic bullish patterns, sparking excitement among investors. In a recent tweet, prominent analyst Ali Martinez drew investors’ attention to DOGE’s 2021 rally, which saw a 212% gain before a 40% correction and then a massive 5,000% jump.

A similar trend occurred in 2021 when Dogecoin surged 476%, followed by a 56% correction, and then a massive 12,000% jump, attracting widespread attention during the crypto bull market.$DOGE