Dogecoin Plummets Another 6% But Traders Remain Upbeat: Why?

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.

Full story available on Benzinga.com