Dogecoin Price Prediction: Bloomberg Analyst Says Crash Is Coming As DOGE Mirrors Bitcoin | Bitcoinist.com

Dogecoin Price Prediction: Bloomberg Analyst Says Crash Is Coming As DOGE Mirrors Bitcoin | Bitcoinist.com

Trusted Editorial content material, reviewed by main trade specialists and seasoned editors. Advert Disclosure

Dogecoin has skilled heightened volatility during the last 48 hours, with its value swinging from a low of $0.157 to a short peak of $0.185. Though this transfer was a part of a rising bullish curiosity within the wider crypto market, the meme coin has since slipped again to $0.172 on the time of writing. This value reversal locations Dogecoin in a precarious place, as soon as once more threatening to fall beneath the $0.17 degree that merchants had hoped would flip into a brand new help base. 

The sharp upswing and equally sharp retracement are the most recent examples of DOGE’s erratic buying and selling conduct, which is now drawing comparisons to a different macro-asset, Bitcoin’s efficiency in opposition to gold.

“Same-Chart Syndrome”: Dogecoin Following Bitcoin’s Path

A chart shared on social media platform X by Bloomberg Intelligence Senior Analyst Mike McGlone presents an attention grabbing overlay of Dogecoin’s market cap trajectory and the Bitcoin-to-gold value ratio. In line with McGlone, these two property have been shifting in the identical method for a while, exhibiting what he known as “same-chart syndrome.” 

Notably, the chart shared by the analyst exhibits that Dogecoin’s market cap and the Bitcoin/gold cross have been shifting in tandem since December 2024. His evaluation highlights how each property have revered an upward trendline over the previous a number of months however warns that this help could not final for much longer.

Dogecoin
Supply Mike McGlone on X

The resemblance between Dogecoin’s chart and Bitcoin’s efficiency relative to gold alerts to McGlone {that a} bearish consequence could also be imminent. The synchronized patterns between the 2 charts, each rising aggressively in 2024 after which pulling again to an ascending help line, counsel that DOGE could also be coming into a bearish cycle slightly than a full-fledged bullish cycle. Notably, McGlone expects the ascending help trendline to ultimately be breached very quickly.

Recession Fears Recommend DOGE Market Cap May Crash Closely

Breaching the ascending help trendline, as predicted by Mike McGlone, will certainly ship the Dogecoin market cap crashing. This contradicts the prevailing sentiment amongst analysts, who’re predicting a bigger rally for DOGE earlier than the tip of the 12 months. 

Nonetheless, McGlone didn’t base his bearish DOGE forecast solely on value motion. In his put up, he tied the expected breakdown in each Dogecoin and Bitcoin/gold to broader macroeconomic developments, notably the chance of a delayed recession hitting the US market.

Notably, the ascending help line that has saved the Dogecoin market cap in place is at the moment round $22 billion, making this an vital degree to observe. On the time of writing, DOGE is buying and selling at $0.1720 with a market cap of $25.63 billion. Primarily based on its present circulating provide of 148.98 billion, Dogecoin’s market capitalization would fall beneath $22 billion if its value had been to drop to $0.147.

Dogecoin
DOGE buying and selling at $0.17 on the 1D chart | Supply: DOGEUSDT on Tradingview.com

Featured picture from Shutterstock, chart from Tradingview.com

Editorial Course of for bitcoinist is centered on delivering totally researched, correct, and unbiased content material. We uphold strict sourcing requirements, and every web page undergoes diligent evaluate by our crew of high expertise specialists and seasoned editors. This course of ensures the integrity, relevance, and worth of our content material for our readers.

Supply hyperlink

author avatar
Crypto Dunia
bitcoin
Bitcoin (BTC) $ 115,629.98 4.15%
ethereum
Ethereum (ETH) $ 2,939.72 6.38%
tether
Tether (USDT) $ 1.00 0.02%
xrp
XRP (XRP) $ 2.53 5.30%
bnb
BNB (BNB) $ 688.02 2.71%
solana
Solana (SOL) $ 163.22 4.41%
usd-coin
USDC (USDC) $ 1.00 0.01%
dogecoin
Dogecoin (DOGE) $ 0.193082 7.62%
tron
TRON (TRX) $ 0.294087 1.21%
staked-ether
Lido Staked Ether (STETH) $ 2,939.19 6.46%
cardano
Cardano (ADA) $ 0.673496 8.77%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 115,504.95 4.08%
hyperliquid
Hyperliquid (HYPE) $ 43.56 7.19%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,550.10 6.36%
sui
Sui (SUI) $ 3.43 11.99%
bitcoin-cash
Bitcoin Cash (BCH) $ 516.09 0.69%
chainlink
Chainlink (LINK) $ 15.14 6.69%
stellar
Stellar (XLM) $ 0.300182 4.70%
avalanche-2
Avalanche (AVAX) $ 20.61 6.00%
leo-token
LEO Token (LEO) $ 9.04 0.81%
hedera-hashgraph
Hedera (HBAR) $ 0.191112 11.56%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,147.70 6.33%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 7.29%
usds
USDS (USDS) $ 1.00 0.01%
weth
WETH (WETH) $ 2,941.71 6.44%
the-open-network
Toncoin (TON) $ 2.94 3.46%
litecoin
Litecoin (LTC) $ 94.15 4.16%
whitebit
WhiteBIT Coin (WBT) $ 46.80 0.24%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.05%
monero
Monero (XMR) $ 328.58 0.38%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 115,685.00 4.16%
polkadot
Polkadot (DOT) $ 3.85 6.92%
bitget-token
Bitget Token (BGB) $ 4.58 4.28%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.00%
pepe
Pepe (PEPE) $ 0.000012 11.85%
uniswap
Uniswap (UNI) $ 8.35 1.80%
aave
Aave (AAVE) $ 305.56 2.23%
pi-network
Pi Network (PI) $ 0.499695 6.92%
dai
Dai (DAI) $ 0.99995 0.04%
bittensor
Bittensor (TAO) $ 372.77 7.10%
ethena-staked-usde
Ethena Staked USDe (SUSDE) $ 1.18 0.09%
aptos
Aptos (APT) $ 4.82 4.91%
near
NEAR Protocol (NEAR) $ 2.50 7.36%
crypto-com-chain
Cronos (CRO) $ 0.097057 2.27%
okb
OKB (OKB) $ 49.15 0.12%
internet-computer
Internet Computer (ICP) $ 5.38 5.02%
jito-staked-sol
Jito Staked SOL (JITOSOL) $ 198.48 4.41%
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00 0.00%
ethereum-classic
Ethereum Classic (ETC) $ 18.30 4.33%
ondo-finance
Ondo (ONDO) $ 0.887206 6.96%
susds
sUSDS (SUSDS) $ 1.06 0.02%
kaspa
Kaspa (KAS) $ 0.085942 5.92%
usd1-wlfi
USD1 (USD1) $ 1.00 0.04%
mantle
Mantle (MNT) $ 0.628224 5.57%
cosmos
Cosmos Hub (ATOM) $ 4.61 6.84%
vechain
VeChain (VET) $ 0.02391 7.37%
ethena
Ethena (ENA) $ 0.314717 10.28%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.219852 6.93%
arbitrum
Arbitrum (ARB) $ 0.395561 12.29%
official-trump
Official Trump (TRUMP) $ 9.77 8.43%
gatechain-token
Gate (GT) $ 16.19 1.22%
fasttoken
Fasttoken (FTN) $ 4.46 0.27%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 0.731623 5.01%
render-token
Render (RENDER) $ 3.65 9.56%
worldcoin-wld
Worldcoin (WLD) $ 1.08 19.26%
algorand
Algorand (ALGO) $ 0.213919 12.20%
bonk
Bonk (BONK) $ 0.000023 13.43%
binance-peg-weth
Binance-Peg WETH (WETH) $ 2,944.63 6.48%
sky
Sky (SKY) $ 0.083644 3.06%
filecoin
Filecoin (FIL) $ 2.57 6.10%
sei-network
Sei (SEI) $ 0.312333 19.20%
lombard-staked-btc
Lombard Staked BTC (LBTC) $ 115,354.91 3.86%
jupiter-perpetuals-liquidity-provider-token
Jupiter Perpetuals Liquidity Provider Token (JLP) $ 4.72 2.71%
binance-staked-sol
Binance Staked SOL (BNSOL) $ 172.87 4.09%
spx6900
SPX6900 (SPX) $ 1.59 5.52%
usdtb
USDtb (USDTB) $ 0.999752 0.04%
first-digital-usd
First Digital USD (FDUSD) $ 0.999032 0.00%
kucoin-shares
KuCoin (KCS) $ 11.35 1.60%
jupiter-exchange-solana
Jupiter (JUP) $ 0.481823 7.41%
kelp-dao-restaked-eth
Kelp DAO Restaked ETH (RSETH) $ 3,087.53 6.60%
rocket-pool-eth
Rocket Pool ETH (RETH) $ 3,350.32 6.38%
usdt0
USDT0 (USDT0) $ 1.00 0.07%
celestia
Celestia (TIA) $ 1.84 9.93%
fartcoin
Fartcoin (FARTCOIN) $ 1.30 17.87%
nexo
NEXO (NEXO) $ 1.26 2.22%
pudgy-penguins
Pudgy Penguins (PENGU) $ 0.019161 22.33%
injective-protocol
Injective (INJ) $ 12.05 10.55%
xdce-crowd-sale
XDC Network (XDC) $ 0.072413 5.39%
flare-networks
Flare (FLR) $ 0.016683 2.79%
virtual-protocol
Virtuals Protocol (VIRTUAL) $ 1.75 11.84%
optimism
Optimism (OP) $ 0.654084 12.25%
mantle-staked-ether
Mantle Staked Ether (METH) $ 3,147.48 6.47%
blockstack
Stacks (STX) $ 0.736942 7.59%
stakewise-v3-oseth
StakeWise Staked ETH (OSETH) $ 3,090.35 6.45%
sonic-3
Sonic (S) $ 0.337244 6.24%
polygon-bridged-usdt-polygon
Polygon Bridged USDT (Polygon) (USDT) $ 1.00 0.01%
solv-btc
Solv Protocol BTC (SOLVBTC) $ 115,514.95 4.25%
dogwifcoin
dogwifhat (WIF) $ 1.04 9.10%
binance-bridged-usdc-bnb-smart-chain
Binance Bridged USDC (BNB Smart Chain) (USDC) $ 1.00 0.01%
renzo-restaked-eth
Renzo Restaked ETH (EZETH) $ 3,097.45 6.67%
Scroll to Top