Hello all,
The below information contains my thoughts on DOGE. Also, it's not trading or financial advice.
I find DOGE to be one of the more repetitive altcoins out there due to its past performance and similar chart patterns as you can see on my chart.
Since, September 2014, DOGE appears to go into 40 month cycles, as evidence from Sept 2014 to Jan 2018, and again from Jan 2018 to May 2021. The next 40 month cycle or phase 3, would be from May 2021 to Sept 2024; in other words, this is an overall 10 year cycle (Sept 2014 to Sept 2024) that is undergoing development.
DOGE's highest market cap ever was reached in May 2021 ($103.16 B). If you see the target (~
11
) for Sept 2024, that would be a market cap of ~$1.5278 T! That's a pretty insane market cap considering BTC's highest ever market cap was ~$1.16 T in Nov 2021.
In phase 1, the DOGE's consolidation period was 13 months before a large move up; in phase 2, the consolidation period was 18 months. If we use either of those two number for our phase 3 breakout, that would put us somewhere between Nov 2023 to Apr 2024. That can be detrimental to the psyche of a permabulls as that's another 7-12 months of sideways action.
So now what? We just sit on the sidelines until a breakout? That can be one option, but the other can be to sell at range highs $0.127 and buy at range lows $0.675. Those are upwards swings of 91% (if you bought at range low and sold at range high) or a solid downward move of 48% if you want to short at the range high.
I think either way you look at it, the best option is to DCA through 2023 and wait for 2024.
I would like to hear your thoughts on my analysis or your own analysis of DOGE over the coming 12 months.
thank you and keep those bags safe!!
tg
The below information contains my thoughts on DOGE. Also, it's not trading or financial advice.
I find DOGE to be one of the more repetitive altcoins out there due to its past performance and similar chart patterns as you can see on my chart.
Since, September 2014, DOGE appears to go into 40 month cycles, as evidence from Sept 2014 to Jan 2018, and again from Jan 2018 to May 2021. The next 40 month cycle or phase 3, would be from May 2021 to Sept 2024; in other words, this is an overall 10 year cycle (Sept 2014 to Sept 2024) that is undergoing development.
DOGE's highest market cap ever was reached in May 2021 ($103.16 B). If you see the target (~
11
) for Sept 2024, that would be a market cap of ~$1.5278 T! That's a pretty insane market cap considering BTC's highest ever market cap was ~$1.16 T in Nov 2021. In phase 1, the DOGE's consolidation period was 13 months before a large move up; in phase 2, the consolidation period was 18 months. If we use either of those two number for our phase 3 breakout, that would put us somewhere between Nov 2023 to Apr 2024. That can be detrimental to the psyche of a permabulls as that's another 7-12 months of sideways action.
So now what? We just sit on the sidelines until a breakout? That can be one option, but the other can be to sell at range highs $0.127 and buy at range lows $0.675. Those are upwards swings of 91% (if you bought at range low and sold at range high) or a solid downward move of 48% if you want to short at the range high.
I think either way you look at it, the best option is to DCA through 2023 and wait for 2024.
I would like to hear your thoughts on my analysis or your own analysis of DOGE over the coming 12 months.
thank you and keep those bags safe!!
tg
Trade active:
almost a year later and current price actions is similar to previous cycle, we continue to have patience and see what happens, best of luck