Dogecoin’s Death Cross: Is It Time to Panic or Just Laugh? 😂

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So, Dogecoin (DOGE) just pulled a dramatic stunt and experienced another death cross. Yes, you heard that right! Its Market Value to Realized Value (MVRV) Ratio decided to take a nosedive below its 200-day moving average. Historically, this is like the universe sending a “please panic” memo. The last two times this happened, DOGE was like, “Hold my beer,” and dropped 26% and 44%. Ouch! 🥴

Now, let’s break this down for the non-financial wizards out there. The MVRV Ratio is basically the financial equivalent of your friend who tells you how much they paid for their vintage T-shirt. It compares the market price to the average price at which investors bought in. When it dips below the 200-day moving average, it’s like a giant neon sign flashing “losers” at a significant portion of holders. And guess what? This usually leads to a lot of people hitting the sell button faster than you can say “to the moon!” 🚀

In the past, DOGE took a 26% tumble in the fall of 2023, followed by a more dramatic 44% drop in the summer of 2024. So, with déjà vu creeping in, market participants are watching like it’s the season finale of their favorite reality show. Will there be tears? Will there be drama? Stay tuned! 📺

#Dogecoin $DOGE just saw a death cross between the MVRV Ratio and its 200-day MA. The last two times this happened, prices dropped 26% and 44%.

— Ali (@ali_charts) February 17, 2025

Meanwhile, the Bollinger Bands are waving their little flags, indicating further downside risk. A potential 20% decline could bring DOGE down to the lower band, which is chilling around $0.219. This could be the critical support zone, or as I like to call it, the “please don’t let this be the end” zone. 🙏

Can DOGE ETF Bring Positivity? Or Just More Confusion?

Now, the fate of DOGE is in the hands of the broader market. With Bitcoin playing hard to get and refusing to break above six figures, and altcoins swinging like they’re on a rollercoaster (up 10%, down 20%—what a ride!), it’s hard to feel optimistic. 😩

But wait! Don’t forget about the Dogecoin ETF! According to the latest theory that’s gaining traction faster than a cat meme, once those exchange-traded funds on the altcoin get the green light, money will flow from Bitcoin ETFs to the DOGE ETF like it’s a high school reunion—awkward but inevitable. 🎉

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2025-02-17 12:25