Is DOGE preparing for a 350% operation?

TL; DR

After a significant 23% drop last week, Dogecoin (DOGE) rose slightly by 4%. One analyst suggested that the correction could be “healthy” and lead to significant price increases.

DOGE's latest correction is ‘healthy?'

of The biggest meme coin into terms The total market capitalization – Dogecoin (DOGE) – has been severely affected by the recent market downturn, its price has increased by more than 23% in one week. However, the situation doesn't seem so dire today (April 19) since the property regained some of its lost ground. to be approximately 4% Daily balance.

one Famous Analyst Javon Marks touched on Doge's upheaval. The X user described the correction as a “healthy rebound”, recalling the asset's impressive performance since the start of the year.

Javon Marks further predicts that such a price pullback could lead to a 315% “uphill” to the $0.65 target.

Other analysts recently predicted A bright future for DOGE includes X users Mikubul Crypto and Trader Tardigrade. The former He said he deserved it. “The real bull run is about to start,” said the latter He argued Dogecoin runs a “7-year cycle”, meaning that a price explosion to a ridiculous $40 is not out of the cards.

Waiting for these reasons

DOGE is indeed on. Considering the fact, a significant rally Bitcoin halving Only hours left. The event, after which the miners receive twice Less In order for BTC to validate blocks on the blockchain, it reduces the amount of new coins entering the market, making the asset more valuable over time (demand should increase or something similar).

Historically, each is halved (It happens every four years) is a precursor to a major revival of Bitcoin and the entire cryptocurrency sector, which means Dogecoin could be among the winners.

Another event that can have a positive effect on the value of Mem Coin is the so-called DOGE Day on April 20. The crypto community chose that day as a joke to celebrate Dogecoin, but the reasons are unclear. Some theories lead to Elon Musk, whose favorite day is April 20 were Having followed the crypto industry for a long time, you know that the CEO of Tesla is one of the most vocal proponents of the meme coin.

Over the past two years, the price of DOGE has seen some increases on that day.