Dogecoin Plummets Another 6% But Traders Remain Upbeat: Why?
Posted On January 9, 2025
Dogecoin (CRYPTO: DOGE) is seeing a disparity between bearish short-term price action and bullish social media sentiment driven rising social activity and increased accumulation by large holders.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Dogecoin (CRYPTO: DOGE) | $0.3267 | $48.9 billion | -6% | -3% |
| Shiba Inu (CRYPTO: SHIB) | $0.00002121 | $12.5 billion | -4.4% | -7.7% |
| Pepe (CRYPTO: PEPE) | $0.000017 | $7.4 billion | -4.2% | -17.2% |
Trader Notes: Trader Tardigrade compared Dogecoin’s current price pattern to its previous market cycle, highlighting the formation of a parallel channel suggesting a bullish outlook.
He set price targets of $2 for the 2025 cycle and $8 for 2028, advising long-term holding for substantial gains.
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