Analis Ini Paparkan Risiko dalam Mengharapkan Harga DOGE ke US$1

,Crypto Analysts Diverge on Dogecoin's Future Price Trajectory

Analyst Skepticism: Pav Hundal

Pav Hundal, senior analyst at Australian exchange Swyftx, expressed skepticism in an interview about DOGE's potential to reach $1, citing risks associated with its current holder base.

Hundal noted that many Dogecoin holders who bought into the memecoin during the 2021 hype are now underwater due to the price decline. This situation could create a perilous scenario if DOGE's price rallies.

Holders seeking to recoup their initial investments may create significant sell pressure as they attempt to break even, potentially inhibiting sustained price appreciation.

Market Dynamics Impacting DOGE's Price

As reported by Bitcoinist, the analyst explained that these investors, known as underwater holders, are likely to use any upward price movements in DOGE to sell their holdings.

This sell-off could prevent the crypto from achieving stable and consistent appreciation, as the market would be flooded with supply every time there is a minor price spike.

Furthermore, Hundal raised concerns about broader market dynamics affecting Dogecoin. He suggested that the crypto may suffer from a lack of depth in this cycle, referring to declining open interest and a shift in liquidity towards newer memecoins.

This trend could lead to reduced market depth and volatility for DOGE, further complicating its path to higher prices.

Contrasting Views from Other Analysts

In contrast to Hundal's bearish outlook, other analysts maintain a more optimistic view of Dogecoin's prospects. Rekt Capital, a prominent figure in the crypto analysis community, argues that Dogecoin's cyclical nature in the market could see it perform well in the current bull market.

According to him, Dogecoin has historically repeated its performance patterns, indicating potential for future gains.

Rekt Capital's view is supported by analysis from fellow crypto analyst CobraVanguard, who identified bullish patterns on Dogecoin's trading chart. CobraVanguard highlighted an ascending triangle and bullish structure on the chart, both traditional indicators of potential bullish momentum.

These chart patterns suggest that Dogecoin may be on the verge of a breakout, leading to a substantial price rally.

CobraVanguard predicts that the price action could follow an AB=CD pattern, a common technical analysis tool used to forecast price trajectory based on previous movements.

Despite the positive technical indicators, broader sentiment around Dogecoin remains mixed. Some analysts express concerns about external market factors, such as the emergence of competing memecoins, which could draw investor interest and capital away from Dogecoin.