{"id":481427,"date":"2022-01-18T19:15:35","date_gmt":"2022-01-18T19:15:35","guid":{"rendered":"https:\/\/wncen.com\/?p=481427"},"modified":"2022-01-18T19:15:35","modified_gmt":"2022-01-18T19:15:35","slug":"downward-doge-descending-dogecoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/downward-doge-descending-dogecoin\/","title":{"rendered":"Downward DOGE: Descending Dogecoin Pattern Predicts Deadly Drop"},"content":{"rendered":"

Dogecoin has had a dramatic year<\/a>. Starting only one year ago, DOGEUSD passed the one cent mark and embarked on a meme-fueled moon mission toward $1.<\/p>\n

It never quite got there, and has been in a downtrend ever since. The downtrend has also since taken a walk down a dangerous path, putting the altcoin in jeopardy of another deadly drop. Here is what could be in store for Dogecoin in the days ahead.<\/p>\n

Crypto House Training: Good DOGE, Bad Behaviors<\/h2>\n

There are two sides to every coin, and even a good dog can behave badly at times. Dogecoin was last year’s cryptocurrency all-star<\/a>, rising from under a penny to nearly $1. It even managed to crack into the top five cryptocurrencies by market cap. It also caused a whirlwind of imitators.<\/p>\n

Fans of the popular pup-based coin range from Snoop Dogg to the Dogefather himself, Elon Musk<\/a>. These celebrity figures and the masses of the mainstream rode the Dogecoin rocket to success. Robinhood investors rejoiced; meme-coins went viral on TikTok.<\/p>\n

Related Reading | Recapping 2021 Memecoin Mania: Dogecoin, Shiba Inu, & More<\/a><\/strong><\/em><\/p>\n

The ride<\/a> itself has been rather bumpy as of late due to the increasingly risky macro environment. However, a possible chart pattern might suggest that it is time to abandon ship and send your DOGE back to the pound (or the dollar).<\/p>\n

\"DOGEUSD_2022-01-18_12-16-03\"<\/p>\n

Is this a descending triangle in Dogecoin? | Source: DOGEUSD on TradingView.com<\/a><\/pre>\n
The Dangerous Descending Triangle In Dogecoin<\/h2>\n
Dogecoin is exhibiting a possible descending triangle<\/a> chart pattern, pictured above. For comparison, the primary phase of the Bitcoin bear market is depicted side by side with DOGEUSD. A similar-sized drop would take Dogecoin back to around between five to ten cents per coin or lower.<\/p>\n
Descending triangles<\/a> have a bearish tendency to break down below support, but that doesn’t necessarily mean certain doom for DOGE.<\/p>\n
Related Reading | SpaceX Dogecoin-Funded DOGE-1 Mission Set To Launch In Q1 2022<\/a><\/strong><\/em><\/p>\n
In the comparison, Bitcoin fell another 50% to its eventual bear market bottom. After the final breakdown of the triangle, the bottom was in and the cycle began anew.<\/p>\n
While things could turn worse for Dogecoin investors \u2013 especially those who bought near the peak \u2013 it might also not be very long until the market reverses if the range lower can be defended.<\/p>\n
Follow <\/i><\/b>@TonySpilotroBTC on Twitter<\/i><\/b><\/a> or join\u00a0<\/i><\/b>the TonyTradesBTC Telegram<\/i><\/b><\/a> for exclusive daily market insights and technical analysis education<\/i><\/b>. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice.<\/i><\/b><\/p>\n
Featured image from iStockPhoto, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Dogecoin has had a dramatic year. Starting only one year ago, DOGEUSD passed the one cent mark and embarked on a meme-fueled moon mission toward $1. It never quite got there, and has been in a downtrend ever since. The downtrend has also since taken a walk down a dangerous path, putting the altcoin in jeopardy of another deadly drop. Here is what could be in store for Dogecoin in the days ahead. Crypto House Training: Good DOGE, Bad Behaviors There are two sides to every coin, and even a good dog can behave badly at times. Dogecoin was last year’s cryptocurrency all-star, rising from under a penny to nearly $1. It even managed to crack into the top five cryptocurrencies by market cap. It also caused a whirlwind of imitators. Fans of the popular pup-based coin range from Snoop Dogg to the Dogefather himself, Elon Musk. These celebrity figures and the masses of the mainstream rode the Dogecoin rocket to success. Robinhood investors rejoiced; meme-coins went viral on TikTok. Related Reading | Recapping 2021 Memecoin Mania: Dogecoin, Shiba Inu, & More The ride itself has been rather bumpy as of late due to the increasingly risky macro environment. However, a possible chart pattern might suggest that it is time to abandon ship and send your DOGE back to the pound (or the dollar). Is this a descending triangle in Dogecoin? | Source: DOGEUSD on TradingView.com The Dangerous Descending Triangle In Dogecoin Dogecoin is exhibiting a possible descending triangle chart pattern, pictured above. For comparison, the primary phase of the Bitcoin bear market is depicted side by side with DOGEUSD. A similar-sized drop would take Dogecoin back to around between five to ten cents per coin or lower. Descending triangles have a bearish tendency to break down below support, but that doesn’t necessarily mean certain doom for DOGE. Related Reading | SpaceX Dogecoin-Funded DOGE-1 Mission Set To Launch In Q1 2022 In the comparison, Bitcoin fell another 50% to its eventual bear market bottom. After the final breakdown of the triangle, the bottom was in and the cycle began anew. While things could turn worse for Dogecoin investors \u2013 especially those who bought near the peak \u2013 it might also not be very long until the market reverses if the range lower can be defended. Follow @TonySpilotroBTC on Twitter or join\u00a0the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":481449,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[1785,1788,7,79599,79600],"class_list":["post-481427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-dogebtc","tag-dogecoin","tag-dogeusd","tag-dogeusdt"],"acf":[],"yoast_head":"\nDownward DOGE: Descending Dogecoin Pattern Predicts Deadly Drop<\/title>\n<meta name=\"description\" content=\"Dogecoin has had a dramatic year. Starting only one year ago, DOGEUSD passed the one cent mark and embarked on a meme-fueled moon mission toward $1. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Downward DOGE: Descending Dogecoin Pattern Predicts Deadly Drop","url":"http:\/\/wncen.com\/news\/dogecoin\/downward-doge-descending-dogecoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/dogecoin\/downward-doge-descending-dogecoin\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/dogecoin-downward-dog-iStock-1158955271.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/dogecoin-downward-dog-iStock-1158955271.jpeg?fit=1254%2C836"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["doge","doge\/btc","dogecoin","dogeusd","dogeusdt"],"dateCreated":"2022-01-18T19:15:35Z","datePublished":"2022-01-18T19:15:35Z","dateModified":"2022-01-18T19:15:35Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Downward DOGE: Descending Dogecoin Pattern Predicts Deadly Drop\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin\\\/downward-doge-descending-dogecoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin\\\/downward-doge-descending-dogecoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/dogecoin-downward-dog-iStock-1158955271.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/dogecoin-downward-dog-iStock-1158955271.jpeg?fit=1254%2C836\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"doge\",\"doge\\\/btc\",\"dogecoin\",\"dogeusd\",\"dogeusdt\"],\"dateCreated\":\"2022-01-18T19:15:35Z\",\"datePublished\":\"2022-01-18T19:15:35Z\",\"dateModified\":\"2022-01-18T19:15:35Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/dogecoin-downward-dog-iStock-1158955271.jpeg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/481427"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=481427"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/481427\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/481449"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=481427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=481427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=481427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}