The popular memecoin Dogecoin (DOGE) has recently experienced a corrective movement, but experts view this as a healthy phase within an established rally pattern.
Despite this correction, there’s still room for DOGE to climb to higher levels in the future, analysts say.
According to well-known analyst Javon Marks, the current pullback is just a natural movement that investors shouldn’t worry about. “This might just be a healthy dip for DOGE as its trajectory seems set! Next levels at $0.22 and $0.60 could be on the way!” Marks tweeted.
DOGE’s Price Dips, Yet Bullish Sentiment Remains Strong
At the time of writing, DOGE has seen a 6.35% price drop over the past 24 hours, currently trading around $0.1605.
This decline comes after a significant price surge in the previous week, reflecting strong bullish momentum. Analysts view this correction as a positive sign, suggesting DOGE remains on a growth path. Based on technical patterns, the correction aligns with typical market dynamics and is considered healthy.
Most analysts agree that this correction is part of a stable uptrend, with no reason for investors to panic.
DOGE Futures Interest Rises, All Time Frames Show Bullish Signals
In recent reports, analysts have also highlighted the notable increase in interest in DOGE futures products. DOGE remains bullish across all time frames, mirroring past altseason patterns when DOGE saw a massive price increase, even as other meme tokens remained flat. This trend has attracted investor attention, with many seeing DOGE’s potential for more than just short-term gains.
Despite DOGE’s current correction, positive market and analyst sentiment remains high. With rising futures interest and technical indicators hinting at further gains, DOGE is believed to have the potential to reach price targets between $0.22 and $0.60.
This optimism reflects the crypto community’s long-term belief in Dogecoin’s potential, despite the frequently shifting market landscape.
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