Dogecoin completes the Q1, which is the most falling Q1 in 7 years with 46% loss, and is the repetition of 2018?
Dogecoin will complete the first quarter of the year with a three -month loss of around 46%in seven years. This increased the possibility the leading nipple To witness the repetition of the 2018 price action when it records the worst quarter loss.
Dogecoin is set to complete the falling Q1 in seven years
CRYPTORANK data It shows that Dogecoin will complete the first quarter of the first quarter in seven years with a loss of 46%. This also recorded a Q1 loss for the first time in three years. In 2023 the leading nipple He made an almost 10%gain and made a surprising increase of 147%in 2024.
Market participants began the year with high hopes for Dogecoin, because this year was to mark the summit of the bull run, but that did not happen. In January, the breast mine was closed with 4%inadequate earnings. However, things increased rapidly in February Dogge Off With a loss of 38.5 %. Meanwhile, Dogecoin also recorded a loss of 17.5% this month.
It should be noted that 2018 was the only time that Dogecoin recorded a worse Q1 loss and lost 68.8% at that time. Based on this, Dogge may reflect the price action. If so, the leading breast mine’s money is set to record a Q2 loss just like 2018. However, Q3 can reversed things as in 2018.
In 2018, Dogecoin recorded a 138% impressive gain in the third quarter after 68.8% and 11.5% losses in the first quarter. In the third quarter of this year, a similar gain can help erase the loss of Doge in this quarter and any loss of potential in the 2nd quarter. However, based on the 2018 price action, it would mark the summit of the Q3 rally. Bull running This year.
Keeping above the lower limit of the rising channel
In an X post, crypto analyst Ali Martinez He said that Dogecoin continues to hold above the lower limit of a rising channel. He said that an increase requested at the current level could be fed towards the middle or higher intervals of a rally. The accompanying graph showed that the medium range is $ 4, the upper December is over $ 7.
Crypto analyst Merchant tardigrade He suggested that Dogecoin may have found gold in the latest market accident. Dogge said he could follow the fractals from September 2024, which could lead to rise for MEM MINI MONEY. Crypto analyst Mater Kenobi has recently expressed the September 2024 price action and estimated that Doge could explode again as then.
During writing, the cost of Dogecoin is traded at $ 0.165 over 3% in the last 24 hours. data From CoinMarketcap.
The prominent picture from UNPASH, graphics from tradingView.com
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