HomeNewsDogecoin Emerges Victorious: Billionair Uncovers Timing for the Next Bull Run And...

Dogecoin Emerges Victorious: Billionair Uncovers Timing for the Next Bull Run And New ATH For DOGE

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  • Nicholas Merten, a renowned analyst, predicts that Dogecoin (DOGE) could ignite a rally by the end of 2023 or early 2024.
  • According to Merten, “smart money” or astute investors usually start accumulating altcoins like DOGE when they’re heavily discounted, typically around 95% off from their all-time high.

Nicholas Merten, a well-respected analyst in the crypto world, has suggested that Dogecoin (DOGE) – the leading meme-based cryptocurrency – could potentially trigger a rally by the end of 2023 or in early 2024. This forecast was shared in a recent video update with his 511,000 YouTube subscribers.

Merten explains that astute investors – often referred to as “smart money” – typically begin accumulating altcoins like DOGE when they are heavily discounted. In this case, he anticipates that Dogecoin should start seeing an accumulation phase once it falls around 95% from its all-time high.

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He elucidates,

“Smart money, the accumulators, are looking at these prior discount ranges, they’re looking to build positions around these ranges. I think, generally speaking, that we’re going to be probably coming around 95%, somewhere in this ballpark range…”

With DOGE currently only 91% down from its all-time high, Merten alerts investors of the potential for further significant drops in price before Dogecoin can instigate a rally. He argues that such a dip in the meme coin’s price could be beneficial as it provides a favorable point of accumulation for the smart money.

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To provide a clearer picture, Merten expounds,

“If you take that same range that was around five cents back in June, and if we take it towards say 95%, you’re talking about a price level that’s all the way down to $0.35. If we go all the way down to 96.5% you’re talking about $0.25, so again you could be facing some significant paper downside on your positions…”

However, Merten also cautions investors that this process might not occur immediately. It could take until the end of 2023 or even stretch into 2024. He emphasizes the importance of focusing on the percentage decline target, concluding that despite DOGE currently being down 91% from its all-time high, there’s still some way to go before the predicted rally.

At the time of writing, Dogecoin is trading at $0.062, reflecting a 1.5% increase in the last 24 hours.

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Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
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