All gains have been removed, most of them. Dogecoin hit yesterday the same level from 6-May. This level was the base that propelled prices to 0.26000. From this high point 11-May, we witnessed a correction lasting more than a month. Total drop amounts to 36.9% (-37%).
Size and duration
» From 6 to 11-May we have 5 days.
» From 7-April to 11-May we have 34 days (bullish).
» From 11-May to 17-June we have 37 days (bearish).
I am making the case that the correction is over. Follow me a little longer and you will be convinced. If you are not convinced by my analysis, you will be convinced when prices start to increase.
Drop vs rise
» The 7-April low was 0.12986.
» The 6-May and 17-June lows was around 0.16400.
While the drop is bigger than the rise, in time duration, the action did not produce new lows (a lower low). Instead, prices remain strong as a higher low.
The low 17-June (yesterday) is 26% higher compared to the low that was hit 7-April.
Now I will make my case stronger.
Past action
Dogecoin peaked 8-December 2024. After this peak, bearish action is really strong and every few weeks we see a new low. Total drop from top to bottom amounts to more than 73%. But here is the thing, the final low in 7-April is still higher compared to the low in early August 2024.
» What you are seeing now is a "small move," (1).
» What comes next is a "big move," (2).
Now you know what is coming to Dogecoin—the altcoins market—what will you do?
Namaste.