{"id":41584,"date":"2025-02-04T14:00:45","date_gmt":"2025-02-04T14:00:45","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=41584"},"modified":"2025-02-04T14:00:45","modified_gmt":"2025-02-04T14:00:45","slug":"dogecoin-price-knocks-off-second-major-correction-when-will-the-recovery-to-1-resume","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=41584","title":{"rendered":"Dogecoin Price Knocks Off Second Major Correction, When Will The Recovery To $1 Resume?"},"content":{"rendered":"

Dogecoin is beginning to regain momentum after a sharp drop<\/a> in the early hours of January 3, a move that liquidated many traders who had been betting<\/a> on continued upside. This decline wasn\u2019t just another pullback,<\/a> as it marked the most significant Dogecoin price drop in six months.<\/p>\n

As noted by technical analyst Kevin (@Kev_Capital_TA), Dogecoin has just completed its second major correction in this ongoing bull cycle. Notably, the next move is a push towards $1 for Dogecoin. However, whether this recovery gains traction will largely depend on Bitcoin\u2019s next move, as broader market sentiment continues to shape Dogecoin\u2019s trajectory.<\/p>\n

Dogecoin Completes Second Major Correction, Echoing Past Bull Cycles<\/h2>\n

As noted by<\/a> crypto analyst Kevin, Dogecoin\u2019s recent drop was its second major pullback this cycle. Furthermore, the recent pullback closely resembles corrections seen in the previous cycle before Dogecoin eventually shot up<\/a> to reach its all-time high.\u00a0<\/p>\n

The recent drop saw Dogecoin reach a bottom of $0.2237 yesterday after a 32% fall from $0.329 just 24 hours earlier. Interestingly, this drop meant Dogecoin had corrected by about 58% from its $0.49 in December 2024. As pointed out by the analyst, this looks much like a similar playout in early 2021, when Dogecoin retraced by about 56.8% on its upward move.<\/p>\n

Both instances were the second major pullback in their respective cycles, and if the pattern holds like the first cycle, the latest dip may have set the stage<\/a> for the next leg higher for Dogecoin to finally break above $1.<\/p>\n

Will DOGE Rally To $1 Soon? Bitcoin\u2019s Influence Is Key<\/h2>\n

Dogecoin\u2019s road to $1 is still intact, but the timing of the next surge depends on a few factors and breaks above multiple resistance levels. One of the most notable factors is Bitcoin\u2019s dominance in the crypto market.<\/p>\n

As Kevin pointed out, Dogecoin\u2019s ability to resume its uptrend hinges largely on Bitcoin\u2019s performance. The broader crypto market often follows Bitcoin\u2019s lead, and if it maintains bullish momentum, the meme coin could soon follow suit. On the other hand, a fall or continued consolidation of the Bitcoin price could lead to a similar move for Dogecoin, as highlighted by Bitcoin\u2019s break <\/a>below $93,000 yesterday.\u00a0<\/p>\n

At the time of writing, DOGE is trading at $0.2593 and is starting to push steadily upwards after bouncing off at $0.223. The key area for bulls to reclaim is $0.33, which has acted as strong resistance since January. A break above this level could signal renewed bullish momentum, potentially setting up Dogecoin for a steady climb toward $0.4 and then $0.5. Bitcoin also needs to register<\/a> a notable break above $100,000.<\/p>","protected":false},"excerpt":{"rendered":"

Dogecoin is beginning to regain momentum after a sharp drop in the early hours of January 3, a move that liquidated many traders who had been betting on continued upside. This decline wasn\u2019t just another pullback, as it marked the most significant Dogecoin price drop in six months. As noted by technical analyst Kevin (@Kev_Capital_TA), […]<\/p>\n","protected":false},"author":0,"featured_media":41585,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-41584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/41584"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41584"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/41584\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/41585"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}