VirtualBacon
Crypto Investor & Educator, Macro Analysis
The current crypto-market shock was needed to form a bottom. Bitcoin will not fall below $60,000 again. x.comÂ
PEPE looks incredibly bullish because it is absorbing reported hacker selling without breaking its initial panic low. Degenharambe says roughly $20 million, over 60% of the stolen amount, has been dumped on-chain. Flipping SHIB looks like a given; flipping DOGE remains uncertain. x.com x.comÂ
Dogecoin is unlikely to draw much new demand. Altcoin inflows are no longer what they were: there are many options, money is limited, and capital already in the market moves to projects catching new hype. Replying to @bogadonemiborsa's case for $1 DOGE through payment adoption on X and Tesla, $1 is not impossible, but strong demand looks unlikely. x.comÂ
Dogecoin's years-long consolidation sets up generational returns, since the larger the consolidation, the larger the expansion. Its last generational run followed a long accumulation phase, and as a blue-chip memecoin it has survived nearly every crypto cycle. x.comÂ
Dogecoin should at least triple or quadruple if bitcoin reaches new highs, on a mean-reversion view. With bitcoin at around $130k, DOGE would likely reach at least 25-30 cents, or about 20 cents in the very worst case. DOGE and its major pairs look very heavy at this juncture, though. x.comÂ
Dogecoin is a weak altcoin that looks likely to break down, as do many others, because crypto is in a risk-off environment. The macro backdrop points to a prolonged bitcoin bear market, with the dollar index preparing to break out, oil spiking on the war and the Fed funds rate staying elevated. Holding it is at your own risk; the first major support zone is the level to watch. x.comÂ
Bitcoin's bull run looks close because bearish comments on the timeline are the contrarian signal that has always appeared just before one. People call the current move a fakeout; buy when others are bearish and sell when they become overly bullish. x.comÂ
Bitcoin has room to rise as the wave of early holders' coins coming to market at $100K and above is over, in my view. Far more of those coins came to market at those prices than expected; Bitcoin remains a beach ball held underwater. x.com x.com x.comÂ
Dogecoin looks to be starting its move as USDT dominance breaks down on the higher timeframe. A post the author replies to says Dogecoin needs to own the $0.104 area and close hard above it, which would serve as confirmation. x.comÂ
Dogecoin, a long-standing gauge of crypto risk appetite, is flashing the best positioning window since 2016 and 2020. Risk ratios are turning up for the first time since those years, and when they have turned before, DOGE performed afterward along with the broader crypto market. The time to position is now. x.com x.com x.comÂ