Dogecoin’s bull market line gives hope to investors

Updated

April 8, 2025

Gambar Dogecoin’s bull market line gives hope to investors

Jakarta, Pintu News – In a downturn in the crypto market, the price of Dogecoin has seen a decline of more than 20% in the past 24 hours. Despite this, crypto analyst Kevin, known as @Kev_Capital_TA on the X platform, remains optimistic that Dogecoin still maintains a critical “bull market line” and could potentially increase if general market conditions improve.

Critical Points that Dogecoin Must Maintain

Kevin emphasized in his latest update that not much has changed in Dogecoin’s position since his last analysis on March 22. According to him, indicators on longer time frames have been reset and Dogecoin is still holding at the bull market support line. While it may not be popular on the X platform at the moment, Kevin emphasized that his job is not to capitalize on people’s fears.

As long as Bitcoin is supportive and economic data is favorable, he believes Dogecoin could rise in the next few weeks. In a previous post, Kevin had set the price of $0.139 as the “final bull market support line” for Dogecoin, cautioning that a weekly close below the multi-year downtrend line could signal a significant change in sentiment.

Also Read: XRP Price Prediction: Between Deep Correction and Hopes of Rebound in Crypto Market (8/4/25)

DOGE and Global Liquidity

In his latest analysis, Kevin delves deeper into the macroeconomic context by juxtaposing the Global Liquidity Index with the Dogecoin price chart. He explains that on the LOG chart, Dogecoin is retesting the breakout point of the bear market range that lasted from May 2021 to October 2024. This represents a very interesting point.

Kevin emphasized that global liquidity has proven throughout history to be a key driver of risky asset prices, particularly altcoins. He pointed out that global liquidity has been moving in a downward channel since May 2022, which coincided with tighter monetary policies from central banks around the world as inflation increased.

Dogecoin Price Outlook

Currently, the Dogecoin price is slightly below the last “bull line” set by Kevin, trading at $0.13558. Despite the significant drop, Kevin’s analysis suggests that there is still hope for a recovery provided some macroeconomic and market conditions are favorable.

An in-depth understanding of the influence of global liquidity and Dogecoin’s technical position provides valuable insights for investors looking for entry or exit points in their investments in the crypto market.

Conclusion

Although the crypto market is currently under pressure, in-depth analysis and understanding of macroeconomic factors can provide valuable guidance for investors. By maintaining a data-driven outlook and technical analysis, the opportunity to navigate this volatile market remains open.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.