DOGE Analysis: Compare the previous cycles with the current cycle

In this article we will look at the price movement of Dogecoin (DOGE) during the bull cycle 2015-2018 and compare it to the current cycle.

DOGE’s 2020 bull cycle is much more intense and shorter in duration than the 2015-2018 cycle.

First bull cycle

DOGE started its first uptrend in May 2015, at which point it was trading at just $ 0.000085.

The uptrend lasted 973 days. In January 2018, it hit an all-time high of $ 0.0187. Compared to the previous low, this represents an increase of 21.821%.

Then followed a long correction that lasted 798 days. It ended on a low of $ 0.00134, which was hit in March 2020. During this time, DOGE lost 93% of its value.

This ended the first market cycle for DOGE.

Weekly DOGE / USD chart, 2015-2018 bull cycle | Source: TradingView

The current movement of DOGE

The current cycle is significantly faster than the previous cycle.

Over a period of 420 days, DOGE grew 54.890%. This is more than double what it was in 2016 and is taking place in less than half the time. As a result, the daily rate of increase is more than four times higher than in 2016.

The uptrend resulted in an all-time high of $ 0.739 in May 2020.

If a similar 92% correction occurs thereafter, it will bring it down to $ 0.054.

In the previous move, the time interval between the upward move and the subsequent correction was similar. Assuming this is also the case, the low will be reached in May 2022.

Weekly DOGE / USD chart, current bull cycle | Source: TradingView

SN_Nour

According to Beincrypto

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