Doge pump & dump against BTC & USD comes to an end

[dragononcrypto]

Here's a quick look at the Dogecoin pump against Bitcoin, reaching a high of 232 satoshis from a low of 24 satoshis this year, an impressive 9x pump and Doge's highest prices against BTC since 2014! All courtesy of Elon Musk tweeting to millions of followers that be bought some for his kid 



Despite only being a memecoin without any real so-called vaue, it is worth 40x more than the US dollar since it's inception 7 years ago now, while also achieving this price increase since 2020 alone after dropping 90% in value from previous high of $0.0195 to establish a new high of $0.0939 (4x higher).



Personally I think Doge can now re-visit the 2-3 cent level, after already dropping over 45% to 128 satoshis, it seems price can fall much further.

[Power420]

It is not possible to imagine that the price of doggy coins was pumped in such a way that it was very low.  So it is not possible to say at what time any coin will pump in the cryptocurrency market.  Only the rise in the price of Bitcoin has pumped out all the other coins.

[Lukasz]

Doge looks properly valued at 0.05 with properly diluted market cap good utility low transaction fee reasonable 100 sat vs btc staying at this level is nothing but appropriate for Doggy IMHO further gains should have underlying causality   

[Cordillerabit]

Low resistance strong support i think its a good sign for another correction move mate 

[Nostoman]

Low resistance strong support i think its a good sign for another correction move mate 

I agree with you. Doge bounced from the local support zone of 0.05$. we will see again a retest of the support zone before going up.

The next resistance is 0.05051$ area and most likely doge rejected from there. we are heading towards a new all-time high. Think about it in detail?

[dragononcrypto]

Low resistance strong support i think its a good sign for another correction move mate 

Not convinced about any strong support, 100 sats has always failed the price since 2014 with the latest monthly candle ending very bearishly.
Instead I see the 7 year-long resistance above 100 satoshis, but everyone has their own perspective I'm aware 
Closing the month at 112 (highest close basically ever) was very promising, then we closed last month at 106 



Down another 10% from last time I spoke of a correction. Now 50% ish, another 50% to 50 sats at least imo.
At least a break below 80 sats should get us there... I love doge's reliably predictable nature.
Gonna buy it again at 25 sats in 2022/2023 for sure!

[Lukasz]

Still the question for utility remains on one hand Doge at this price level has a very low transaction cost which is ideal for most widely use case for doge which is tipping if doge would be 1$ transaction cost of 1 doge wouldn't be so insignificant any more

[Bobcrypto]

I think there are many holders since 3years ago who saw a good advantage to sell when the price jump from $0.004 to 0.085 in January. I am yet to conclude that dogecoin has experienced any dump and it is a good move for anyone holding dogecoin to sell with huge profit at such a big percentage rise.

[Lukasz]

As long as Dogecoin does not expand beyond being a meme coin being valuation of  0.05 $ is proportionate to its utility being more volatile and unstable would bring to much uncertainty to its users and be contradictory to its utility which is tipping