Dogecoin Dump Incoming? Understanding the Post-Father's Day Pump and Beyond
Dogecoin, one of the leading tokens in the cryptocurrency world, is undergoing a rough patch. The recent Father's Day pump saw some gains, but the question now is: are we facing a Dogecoin dump incoming? Many of the recent price pumps have been attributed to Elon Musk following a series of cheerleading tweets by the self proclaimed Doge Father. The price of the world’s most expensive meme, Dogecoin, is still going strong one week after billionaire entrepreneur Elon Musk pumped the coin on Twitter and, post the immediate pump recorded hourly, there was a minor retracement, but DOGE was fast to re.
Analyzing Dogecoin's Price Action: Pump and Dump?
These volatile moves have many wondering whether Dogecoin can actually make it to the moon, or whether the cryptocurrency is a pump and dump. Doge has failed to impress investors by displaying dormant price.
Technical Analysis: Lower Highs and Lower Lows
In case of Dogecoin: massive pump peaked at .087, fell to .038, then up to .067 then to .04, it then consolidated in .025-.035 zone, another pump to .048 and now...
Is Another Dogecoin Pump Incoming?
In a March 25 X post, Trader Tardigrade asserted that Dogecoin could extend its recent form to unprecedented price highs. This is Dogecoin’s price was quick to react to the said streak of tweets.
The Future of Dogecoin: Blockchain and Beyond
Using the blockchain, tokenized real-world assets can be traded 24 hours a day, seven days a week, eliminating conventional market inefficiencies. Whether Dogecoin can leverage these opportunities remains to be seen.