Dogecoin has exceeded a new negative record in its history, after it remained for more than 1550 days under the highest price it has ever, in the longest stagnation in this digital currency.
According to a new analysis of Visionpulsed expert, the future of Dogecoin may carry a possible rise, but the road there is still mysterious and slow.
A negative standard that reflects structural weakness
In August 6 update, VisionpulSed analyst described the current state of Dogecoin as a continuation of the “declining pattern forever”.
He explained that the first session of the currency took 1,200 days to reach the summit, and the second 1126 days, but the current exceeding 1550 days without penetrating the previous summit, what he considered a sign of a structural defect in the market cycle of Doge compared to other major currencies.
The weak link with global liquidity
The analysis mainly depends on the global liquidity index known as “Global M2”, which is used as a scale of risk appetite in digital asset markets.
Although the index showed a bounce in June, Dogecoin did not show any simultaneous ascension with it.
Visionpulsed pointed out that Ethereum in return is more sensitive to this indicator, and has already began to recover, which reflects a clear contrast between the pricing behavior of the two coins.
Acknowledgment may precede height
The analyst expects that Dogecoin will be in the process of forming a side cumulative style similar to what happened before its previous rise, stressing that maintaining the current prices until mid -August may enhance the chance of apostasy.
But he stressed that the upscale scenario remains conditional on many factors, including the improvement of market morale and the acceleration of liquidity, noting that indicators such as low viewing rates for Dogecoin clips on YouTube may be a sign of the end of the end of the retail wave approach.
Long -term price expectations
Visionpulsed identified two potential price ranges in the event of a long -term price reflection, the first, which is the most conservative, ranges from 0.90 to $ 1.14, while optimistic scenario, which he described as “satellite lovers’ expectations”, may reach 1.50 and perhaps up to 2 dollars, but indicated that this possibility needs exceptional market conditions.
No time promises .. And the end of the year may be the key to the transformation
Despite the conditional optimism, the analyst avoids providing a specific time expectation, stressing that the major trends such as the acceleration of liquidity and the trust of the market in alternative currencies should be achieved first.
But he did not rule out that previous patterns that witnessed a final start of prices were repeated with the approach of August and September, which opens the door for the possibility of a final rise before the end of the year.
It is worth noting that Dogecoin trades the time writing time at $ 0.206.
