Is Dogecoin Headed for a Drop — Or About to Break Out? Analyst Weighs In
Dogecoin has been in a prolonged downtrend, spending over 1,550 days below its all-time high. According to crypto analyst VisionPulsed, the coin remains stuck in a "forever bearish" pattern, despite hopes of a future breakout.
A Record-Breaking Downturn
VisionPulsed's analysis highlights Dogecoin's price history, comparing its current consolidation phase to previous market cycles. The analyst notes that past cycles lasted around 1,100 to 1,200 days, while Dogecoin's current downturn has already surpassed 1,550 days — a record.
Why Dogecoin Isn't Moving Yet
The analyst attributes Dogecoin's stagnation to the global M2 money supply, a key measure of global liquidity and investor appetite for risk. Since M2 hasn't surged yet, Dogecoin hasn't reacted positively. VisionPulsed notes that Ethereum, being more sensitive to M2, has started to show signs of recovery, while Dogecoin remains in uncertain consolidation.
Potential for Upside Movement
Despite current caution, VisionPulsed believes there's still potential for an upside move, especially if DOGE holds its current levels through mid-August. He notes that retail interest is extremely low, which often indicates that the bottom is near, based on past cycles.
Price Targets
The analyst shares two long-term price targets:
- Cautious target: $0.90 to $1.14
- Speculative target: $1.50 to $2.00
VisionPulsed emphasizes that there's no timeline for these targets, and the global M2 trend, market sentiment, and altcoin strength must all align before we can see those prices.
What to Expect in the Coming Months
Historically, the crypto market gains momentum near the end of the year. VisionPulsed mentions that August to September often brings price surges — and that could still happen if the right conditions develop. Patience will be key as Dogecoin's long bearish phase continues.
Conclusion
While Dogecoin's future remains uncertain, the next few months could be critical. If global liquidity improves and Dogecoin consolidates correctly, we could see a breakout. Stay tuned for further updates on $DOGE's price action and market trends. #Dogecoin #DOGE #CryptoMarket #BreakoutOrDrop