Dogecoin plummeted by 66%, can it replicate the miracle of rebound?
In recent weeks, the price of Dogecoin has been on a downward trend, with increasing selling pressure, breaking through several support levels. Compared to the peak in December 2024, Dogecoin has already dropped by about 66%. Such a large decline has left many investors feeling concerned.
From historical data, large pullbacks like this are not uncommon and often serve as a precursor to a massive rebound. Cryptocurrency analyst Trader Tardigrade pointed out that since October 2022, Dogecoin has experienced two similar pullbacks, both followed by significant price surges.
The first pullback occurred from October 2022 to June 2023, where the price dropped by 64%, but then surged by 300% from July 2023 to March 2024.
The second pullback occurred from March to August 2024, where the price also fell by 64%, but was immediately followed by a 500% surge.
According to Tardigrade's analysis, the 66% pullback of Dogecoin since December 2024 closely resembles historical patterns. If history repeats itself, Dogecoin is very likely.
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