DogecoinLong
DOGECOIN: a journey to 3$?
Dogecoin is recently showing some signs of relief and bottom reversal. Thats why i think the bottom could be in for this doge.
3$ seem's like a high target but i believe that it's reachable this year or the next.
I will explain you why:
1)Doge is one of the most popular token among the most famous influencers in the world.
2) If BTC will continue its rally to the high 100k and beyond the total crypto market cap could bounce and we could see the top 10 climb in never seen valuations.
3)400 billions dollar would take doge around 3$ range. At the point (100kbtc) btc would be at 1.6T$ alone. Eth will follow with 1T$ cap at 10k$ valuation.
And we could see the total cap at 10T$, giving lot of valuation to the lower tokens also.
4)Doge is in a formation called FALLING WEDGE, in techincal analysis is a formation that plays out bullish 2/3 of the times.
The crypto market made those moves already and it will not stop now. Lenghtening cycles are in play, this means the cycle will get longer with time. Follow the logic:
- first btc cycle was long peak to peak 903 days (bottom2013/2014).
- 2th btc cycle was long peak to peak 1477 days (2015/2016/2017).
- 3th btc cycle could last 4 years from bottom to peak (2019/2020/2021/2022).
Doge will certainly follow BTC raising in cap. And the important thing is that the doge community and developers activity is growing as it never had. This puts doge under the spotlight for everyone in the world and gives a very high awarness.
I recognize that 3$ is a very high target but i think it's possible if we get a mania phase where everyone throw money in the market (as we saw in 2020).
It will clearly not be sustainable for long, given the huge number of whales hodling very big quantities of tokens in their wallets.
That said we could still see a PEAK for short time and subsequential crash (and i underline peak cause i want to point out the average risk being very high, of holding doge at 400 billions $ cap).
Thanks for reading!
Here for you, as always, CryptSoaP!
3$ seem's like a high target but i believe that it's reachable this year or the next.
I will explain you why:
1)Doge is one of the most popular token among the most famous influencers in the world.
2) If BTC will continue its rally to the high 100k and beyond the total crypto market cap could bounce and we could see the top 10 climb in never seen valuations.
3)400 billions dollar would take doge around 3$ range. At the point (100kbtc) btc would be at 1.6T$ alone. Eth will follow with 1T$ cap at 10k$ valuation.
And we could see the total cap at 10T$, giving lot of valuation to the lower tokens also.
4)Doge is in a formation called FALLING WEDGE, in techincal analysis is a formation that plays out bullish 2/3 of the times.
The crypto market made those moves already and it will not stop now. Lenghtening cycles are in play, this means the cycle will get longer with time. Follow the logic:
- first btc cycle was long peak to peak 903 days (bottom2013/2014).
- 2th btc cycle was long peak to peak 1477 days (2015/2016/2017).
- 3th btc cycle could last 4 years from bottom to peak (2019/2020/2021/2022).
Doge will certainly follow BTC raising in cap. And the important thing is that the doge community and developers activity is growing as it never had. This puts doge under the spotlight for everyone in the world and gives a very high awarness.
I recognize that 3$ is a very high target but i think it's possible if we get a mania phase where everyone throw money in the market (as we saw in 2020).
It will clearly not be sustainable for long, given the huge number of whales hodling very big quantities of tokens in their wallets.
That said we could still see a PEAK for short time and subsequential crash (and i underline peak cause i want to point out the average risk being very high, of holding doge at 400 billions $ cap).
Thanks for reading!
Here for you, as always, CryptSoaP!
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