{"id":567600,"date":"2021-06-29T18:15:14","date_gmt":"2021-06-29T15:15:14","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=567600"},"modified":"2021-06-29T18:15:14","modified_gmt":"2021-06-29T15:15:14","slug":"dogecoin-doge-could-go-to-0-08-crypto-analyst","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/dogecoin-doge-could-go-to-0-08-crypto-analyst\/","title":{"rendered":"Dogecoin (DOGE) Could Go to $0.08 &#8211; Crypto Analyst"},"content":{"rendered":"<ul>\n<li><strong>According to Timothy Peterson, Dogecoin could drop to $0.08 if the crypto-verse enters a bear market<\/strong><\/li>\n<li><strong>Dogecoin could fall this low based on DOGE breaking a rank-size distribution pattern<\/strong><\/li>\n<li><strong>Bitfinex Whale @Joe007 is for the opinion that the crypto markets are overvalued if DOGE is still above 1 cent<\/strong><\/li>\n<li><strong>Dogecoin is now trading at $0.269 with the 100-day moving average acting as resistance at the $0.28 area<\/strong><\/li>\n<\/ul>\n<p>The popular meme-coin of <a href=\"https:\/\/en.ethereumworldnews.com\/dogecoin-doge-has-corrected-by-71-since-elon-musks-snl-peak-value\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Dogecoin (DOGE)<\/a> could be gearing up for a correction to the $0.08 price area. This is according to <a href=\"https:\/\/twitter.com\/nsquaredcrypto\/status\/1407278439804121090\" target=\"_blank\" rel=\"nofollow noopener\" data-schema-attribute=\"\">an analysis shared<\/a> by <a href=\"https:\/\/en.ethereumworldnews.com\/the-use-of-t-a-could-make-bitcoins-death-cross-self-fulfilling\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Timothy Peterson<\/a> of Cane Island Alternative Advisors who also explained that the $0.08 price was hinged on a crypto-wide bear market lasting six to nine months.<\/p>\n<p>Mr. Peterson went on to explain that his analysis was based on math as Dogecoin had broken what is called &#8216;a rank-size distribution pattern&#8217; as of April 18th.<\/p>\n<p>His analysis of Dogecoin can be found below alongside a chart that he shared demonstrating how DOGE had deviated from the rank-size distribution pattern when compared to other altcoins.<\/p>\n<blockquote><p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">This [chart below] is called <a href=\"https:\/\/en.wikipedia.org\/wiki\/Rank%E2%80%93size_distribution\" target=\"_blank\" rel=\"nofollow noopener\" data-schema-attribute=\"\">a rank size distribution<\/a><\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">. This is the largest 30 coins and their 7-day return. There is a pattern that <\/span><span class=\"r-18u37iz\">$DOGE<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> has broken. This deviation is temporary. This current situation implies <\/span><span class=\"r-18u37iz\">Doge<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> will lose 80%.<\/span><\/p><\/blockquote>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/DOGE-rank-size-distributin-June-29th.jpg\"><img class=\"aligncenter size-large wp-image-567603\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/DOGE-rank-size-distributin-June-29th-1024x465.jpg\" alt=\"\" width=\"1024\" height=\"465\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/DOGE-rank-size-distributin-June-29th-1024x465.jpg 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/DOGE-rank-size-distributin-June-29th-300x136.jpg 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/DOGE-rank-size-distributin-June-29th-770x350.jpg 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/DOGE-rank-size-distributin-June-29th-1536x697.jpg 1536w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/DOGE-rank-size-distributin-June-29th-2048x930.jpg 2048w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/DOGE-rank-size-distributin-June-29th-500x227.jpg 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/DOGE-rank-size-distributin-June-29th-240x109.jpg 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/DOGE-rank-size-distributin-June-29th-717x326.jpg 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/DOGE-rank-size-distributin-June-29th-1347x612.jpg 1347w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\"><\/a><\/p>\n<h2>Crypto Space is Overvalued when DOGE is Above $0.01 &#8211; Bitfinex Whale @Joe007<\/h2>\n<p>In another analysis of Dogecoin, <a href=\"https:\/\/en.ethereumworldnews.com\/ethereum-eth-staking-is-a-marketing-ploy-bitfinex-whale\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Bitfinex Whale<\/a> @Joe007 was for the opinion that the crypto markets were currently overvalued if DOGE was still above $0.01. @Joe007 shared his opinion of Dogecoin through the following Tweet.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">While DOGE is still above 1 cent, the whole &quot;crypto&quot; space is crazy stupid overvalued. <a href=\"https:\/\/t.co\/AtuV2QpCGh\" rel=\"nofollow\">https:\/\/t.co\/AtuV2QpCGh<\/a><\/p>\n<p>&mdash; Joe007 alerts\u00b7groups\u00b7funds? Scam! (@J0E007) <a href=\"https:\/\/twitter.com\/J0E007\/status\/1406003690838843398?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">June 18, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Dogecoin Bounces off the 200-day MA, Meets Resistance at the 100-day MA<\/h2>\n<p>At the time of writing, Dogecoin is trading at $0.269 after an energetic bounce from last week&#8217;s low of $0.16322 that also converged with the 200-day moving average (green) price zone.\u00a0<a href=\"https:\/\/en.ethereumworldnews.com\/elon-musk-i-havent-and-wont-sell-any-dogecoin-doge\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Dogecoin<\/a> is currently trying to break past the 100-day moving average (yellow) that has formed a resistance level at the $0.28 price area as seen in the chart below.<\/p>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/DOGEUSDT-June-29th.png\"><img class=\"aligncenter size-full wp-image-567605\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/DOGEUSDT-June-29th.png\" alt=\"\" width=\"977\" height=\"528\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/DOGEUSDT-June-29th.png 977w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/DOGEUSDT-June-29th-300x162.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/DOGEUSDT-June-29th-770x416.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/DOGEUSDT-June-29th-500x270.png 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/DOGEUSDT-June-29th-240x130.png 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/06\/DOGEUSDT-June-29th-717x387.png 717w\" sizes=\"(max-width: 977px) 100vw, 977px\" title=\"\"><\/a><\/p>\n<p>Also from the chart, it can be observed that the daily MACD, MFI and RSI, all confirm the aforementioned trend reversal for Dogecoin.<\/p>\n<p>However, a death cross is in the pipeline for Dogecoin (DOGE) as the 50-day moving average (white) looks set to cross the 200-day moving average, sometime in the third quarter of 2021. Therefore, caution is advised when trading Dogecoin in the next few weeks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to Timothy Peterson, Dogecoin could drop to $0.08 if the crypto-verse enters a bear market Dogecoin could fall this low based on DOGE breaking a rank-size distribution pattern Bitfinex Whale @Joe007 is for the opinion that the crypto markets are overvalued if DOGE is still above 1 cent Dogecoin is now trading at $0.269 with the 100-day moving average acting as resistance at the $0.28 area The popular meme-coin of Dogecoin (DOGE) could be gearing up for a correction [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":567602,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[825,947],"tags":[108087,108297],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/567600"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=567600"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/567600\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/567602"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=567600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=567600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=567600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}