If we look at the market caps of doge per btc (doge / btc), it appears the bottom is in for the altcoin, relative to btc. I believe now is the best time to accumulate while the price is between .07-.05
A price of .07 is roughly -90% from the all time high and at .05 it's -93%. I don't see the price going any lower given it's a top 10 cryptocurrency, excluding a major economic meltdown, in which case, just buy more. Ultimately I see doge at $1-$2 during the next bull run in late 2024 / early 2025 (15-40x return).
I'm aware of the unlimited coin supply and farce of the coin, but once the big names like Elon start pumping this coin it will go exponential once again, as it has every cycle.
Happy Trading.
A price of .07 is roughly -90% from the all time high and at .05 it's -93%. I don't see the price going any lower given it's a top 10 cryptocurrency, excluding a major economic meltdown, in which case, just buy more. Ultimately I see doge at $1-$2 during the next bull run in late 2024 / early 2025 (15-40x return).
I'm aware of the unlimited coin supply and farce of the coin, but once the big names like Elon start pumping this coin it will go exponential once again, as it has every cycle.
Happy Trading.
Trade active
Comment:
I have added dogecoin to my bag at .062 cents.
However, I noticed something that has me cautious. Dogecoin was released in 2014, and is in it's 3rd crypto winter. The DOGE/BTC valuation for both of the prior winters reverted to roughly the same level, whereas today's is much higher suggesting that a true mean reversion would drag it down much further.
So I'm only entering when both the DOGE/BTC val is undervalued AND the DOGE/USD, as well, or sub .065 cents.