Crypto Analyst Sees Musk's Favorite Coin Plunging Over 90%: 'What Truly Matters Is Price Action'
Portfolio Pulse from Mehab Qureshi
Crypto analyst Nicholas Merten predicts a significant correction for Dogecoin (CRYPTO: DOGE), projecting a potential decline of nearly 90%. He emphasized the importance of price action and stated that the downward trend might persist if the price isn't garnering interest and there's a scarcity of buyers. At the time of writing, DOGE was trading at $0.058, down 0.56% in the last 24 hours.
October 13, 2023 | 12:19 pm
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Dogecoin is predicted to experience a significant correction, with a potential decline of nearly 90%.
The prediction of a significant correction for Dogecoin is based on the analysis of Nicholas Merten, who emphasized the importance of price action. If the price isn't garnering interest and there's a scarcity of buyers, the downward trend might persist. This could potentially lead to a decline of nearly 90%.
CONFIDENCE 80
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
Bitcoin was mentioned in the article but no specific prediction or analysis was provided.
Bitcoin was mentioned in the article as a comparison to Dogecoin's performance. However, no specific prediction or analysis was provided for Bitcoin, hence the neutral score.
CONFIDENCE 100
IMPORTANCE 50
RELEVANCE 50