DOGECOINS RETURN: Is DOGE Back For GOOD?

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All right so we got to talk about the return of Dogecoin and we’re really just going to talk about whether or not Dogecoin is back for good we’re going to talk about some news going on inside of the Dogecoin world and really I haven’t made a video on Dogecoin in forever so

We’re going to talk about this remember I’m not a financial ADV or none of his financial ADV but let’s get straight to it so now as you can see right now with Dogecoin we were at 8 cents 844 that’s fairly decent because if you think about it in the last year Dogecoin

Is down 4.1% you don’t always want something to be up within the last year or something because if it’s down that means that it has more upside Potential from where it was currently so the fact that it’s still down right now means there’s still a lot of upside potential

For you and Dogecoin almost hit a dollar at its peak we got to remember what Dogecoin did during the last bull market 73 cents imagine Dogecoin at a dollar from where we are right now you know it’s fairly simple you know thinking about the math here with Dogecoin you

Know if you want to take take let’s say that $1 uh and then divide it by your 8 cents right that we’re at currently right now this is pretty interesting because that’s an 11x from where we are now so Dogecoin getting to a dollar will 11x the price of Dogecoin Dogecoin at a

Dollar would be worth $143 billion market cap almost did it before was at like 90 billion market cap so I do think that Dogecoin can reach that level that’ be 11.85 X from where we are now multiplied any money that you put in it by 11.85 let’s say you put 10K up in

There you know you got 118k right out the gate like that so fairly simple you know fairly simple thing here with Dogecoin but I definitely like that Dogecoin is still down compared to everything else you know if you look at what Dogecoin was doing you know since

2022 like do coins been down since the beginning of 2022 and not even since the beginning of that you know for a while now but just kind of looking at this like that’s that’s that’s kind of big that’s kind of big if you look at it all

The way from 17 cents all the way up there all the way down to 8 cents and in the last year it has not done anything you know it went all the way down to five cents but then it came all the way back up to 10 cents and then it went all

The way back down to seven cents now it’s at 8 cents so it’s actually fairly cheap right now so I think it’s a good time to be looking at Doge and Doge has been coming back on Twitter you know a lot of people on Twitter have been

Talking about do a little bit more than they were recently you know the market cap is still good at 12 bill ion I mean you can’t beat that it’s still a rank number 12 coin uh 12 billion I think Dogecoin is still a good bet here so it’s funny because you know Dogecoin

Hasn’t been doing nothing within like the last year but it’s been retaining its value like the people who are in Dogecoin are in it to win it they’re still holding it the fact that they’re still holding Dogecoin is absolutely insane I’m going to be completely honest it’s absolutely insane that the people

That are holding it are still holding it it cuz I’ve sold a while ago but I’m probably going to start buying some more Dogecoin back again but yeah it’s it’s it’s absolutely insane but yeah a lot of people are still holding Dogecoin um I’m going to go ahead and show you some

Other things here now so Ferrari has now started accepting Dogecoin you know they started accepting crypto first like Bitcoin and now they’re accepting Dogecoin for payments it’s kind of funny because Ferrari is one of those things like they don’t even like when people modify their cars they don’t like when

People you know paint the cars they don’t like when people you know do a bunch of modifications on their car they actually ban people from buying new Ferraris in the future when or from even owning Ferraris they literally ban people and do like a legal lawsuit

Against them and don’t allow them to buy any more Ferraris if they modify the cars in certain ways I think Jake Paul or someone like or Logan Paul might have got banned from me I don’t know someone got banned from buying Ferraris I know Jake Paul just bought a new Ferrari so I

Don’t think it was him but you know a lot of people have gotten banned before from buying new Ferraris for doing modifications but yet they’re now allowing people to buy Ferrari with Dogecoin so it’s kind of interesting to see that you know such a old school uh vehicle company is allowing payments at

For Dogecoin like they’re so old school that they hate when people modify the cars and do new school things to the cars so the fact that they’re accepting Dogecoin for a payment is actually pretty big um not only that Dogecoin used to be worth more than for our

Dogecoin was actually worth more than 55 billion market cap actually we could calculate we could calculate what Dogecoin was worth you know at its peak and it’s fairly simple you just take what it was worth at its peak 73 cents and multiply by where we were at that

Time which was I think 141 billion market cap uh correct me if I’m wrong but you know they create new dogecoins all the time but it was at about 141 billion market cap back then so give or take it was around a 100 billion to 90 billion you know it’s not 100% correct

But it was either 90 something billion or just shy of 100 billion in market cap right but it was like at 90 billion market cap but yeah that’s pretty interesting to see you know the fact that Dogecoin was once worth more than Ferrari it was once worth more than

Spotify obviously I I think Spotify is now increased in its market cap and a lot of these other things definitely Twitter but you know Dogecoin was once worth more than those so it’s pretty interesting and I think Dogecoin is coming back if you think about it a lot

Of people have been talking about Dogecoin some more um we can even look at the Dogecoin rich list as they call it which are the top Dogecoin whales top whales inside of Dogecoin are buying more Dogecoin you know I just clicked random wallets I don’t even know which

Wallets I clicked I just clicked a random wallet but I know that they’re going to be buying Dogecoin because you know it’s just been increasing you know top wallets buying more Dogecoin you can see it here they’re all doing it this one doesn’t even like to sell Dogecoin

They just like to buy it every single day now you still got the one selling it like this one this one’s selling it right here um let’s wait for this to load up but yeah they’re selling it this one’s buying it this one’s buying it this one’s buying it this one’s buying

It but you know some people are selling so you got the people that are selling at the people that are buying this Dogecoin will on the uh 20th which is today earlier today at 1:00 a.m. they bought $45 Million worth of Dogecoin 512,000 dogecoins or no 512 million dose

Coins that’s a lot they bought literally $45 Million worth of dose coin at $1 this will be worth $512 million so I think that’s their goal here they’re probably going to hold it to like a dollar so they can be like half a billion so it’s really easy to get even

More richer when you’re already rich it’s easy is very easy to make money when you already have money especially when you got stuff like crypto out there like this person can literally have a half a billion dollars just by holding Dogecoin to like the end of the year or

Whenever the peak of the bull market is going to be just by holding Dogecoin for that long they can have a billion dollars and this is time and time again what’s happening with a lot of these uh millionaires here so this Dogecoin will does nothing about sell Dogecoin but

They buy more than they sell they bought 292,000 give or take they sold about um give or take about $30,000 here worth of Dogecoin but they bought 292,000 and same thing down here give it a take they probably sold a good uh 500k here but I’m pretty sure they bought 318k so

They’re still buying but they’re selling a lot as well this one here but um it looks like they’re just trying to offload their position because they already have $54 Million worth of dose coin so they’re probably trying to offload their uh position here here because they just you know maybe they’re

Overleveraged inside Dogecoin they got too much so they’re trying to sell some but we have a lot of whales started just buying buying buying buying buying doing nothing but buying you know we got this whale that started buying inside of November they bought at six cents they

Bought 10 million doll worth of Doge and then they bought some more $10 million worth of Doge again inside of uh December you know they bought it at N9 cents and then the price went down a little bit so they start decided the dollar cost average they bought 10

Million more dollars the dollar cost average went down to uh 7079 so they bought 10 million more to dollar cost average moreon now they got $41 million $485 million uh 485 million Dogecoin which means at $1 they’ll have $485 million so a lot of these wheels

See the comeback of Doge this wh right here started um he bought some Dogecoin at the beginning of this month on the 4th of February $30 million worth of Doge um since the the 4th of February it’s the 20th of February right now so in 16 days this whales money went from

$30.3 million to $ 32.5 million this whale literally made2 million in 16 days on Dogecoin where you have money it’s very easy to make money it’s very easy to make money when you have money and you can see it here like this person could sell this Dogecoin right now and not

Work for the next 10 years of their life off of the money they just now made just the $2 million right so this is why um this is why I’m really big on crypto this is why I will never stop with crypto I’m going to trading is life for

Me I’m not stopping this this is the journey not stopping this doing it the right way all right we’re doing it the crypto way crypto way is the right way but yeah anyways you know the uh crypto way like I said is the right way way but

We’re seeing a lot of these whales buying dose coin and they’re not stopping and they’re doing it for a reason because you know I think Dogecoin is going to be coming back it’s going to make a huge comeback this year this is going to be the year of the Doge a lot

Of people are buying more and more Dogecoin they’re going to make a huge comeback this one has $21 million they started to buy you know last year in October only $1,000 and then on the 25th of October they’re like you know what I’m going to go ahead and buy $15

Million and they did that they kept buying buying buying buying buying eventually got up to $21 million inside of Dogecoin and right now they currently have 249 million dogecoins which will be $249 million at $1 so if you can go from $21 million to $250 million like why

Wouldn’t you want to do that and that’s what these Dogecoin whales are doing they see the money they can be making so they’re doing it the right way they’re being smart here I would be doing the exact same thing if if I was them okay but right now we’re doing uh very decent

With uh Dogecoin here but next we’re just going to go over our technical analysis and we’re going to break this down right now so we got a descending triangle right here and we got a Fibonacci retracement so I actually did this on the the last Dogecoin video that

I made and it was a while ago but definitely check out that last video I don’t know how long ago it was but I made this descending triangle and I was talking about how you know we could have a reversal on it and that’s exact what

Happened here we had a reversal on our descending triangle let me go ahead and take off this Fibonacci retracement but as you can see we had this reversal on the descending triangle and we went into this bullish pattern now that’s pretty good we’re going to continue to rise

Inside of this bullish pattern I can already see another uh triang another formation forming up here eventually we’re going to end up seeing you know actual bullish movements here for Dogecoin but right now you know we’re just going to trade sideways for a little bit so don’t be too worried but

Anyways bringing back this Fibonacci retracement we do see that we’re about to hit this support with here with Dogecoin and that support is around 8 cents flat right now we’re at 085 we might be going down to like the flat area of8 cents so you know give or take

We just got to wait for that and if you look over here at the RSI you can see that it’s crossed and it’s going down towards the bottom meaning that we are going to decrease a little bit in our price so we should see a little bit of a

Decrease in the price of Dogecoin in the short term but don’t even be mad about it because as you know Dogecoin down 4% in the last year I mean it hasn’t done anything in the last year so don’t be too upset because you know this is expected right now of Dogecoin but

Yeah even looking at a smaller time frame the 15 minute chart it still shows that we’re going to eventually go back down here to the bottom support there on that Fibonacci retracement and we’re still at the top of our RSI so we should still be Crossing down to the bottom

Onto that RSI so we should be going down to 8 cents flat like I said before so that should be happening soon inside of Dogecoin I do believe that Dogecoin is back I think that Dogecoin is going to be doing pretty good this season you know this um altcoin season during this

Meme coin season during the bull market I think those coin is going to do relatively well but it’s just going to be a matter of time for those coin to actually do that so we’re going to have to wait for that now this is the technical analysis that I could show you

Or I could also show you the automated trading indicators with uh chart Prime so shout out to chart Prime Link in the description for that if you wanted but if we were just going to look at this from the perspective of chart Prime which are the red momentum wav bands

Green momentum wav bands here pretty much tracks the momentum of whatever project you’re looking for now we’ve obviously hit a resistance area at the top of this wave and you can see here how it’s getting rejected at this little red line here this is part of the automated trading indicators is getting

Rejected here and that is probably going to end up bringing us down to where this red line is right here this red line acting as our support and it just so happens to be right where our Fibonacci retracement is that’s why I also like using Auto automated trading indicators

Also with stuff like descending triangles and also stuff you know like triangle patterns and then also with like the Fibonacci retracements it’s like you have to use every single Avenue that you can use when you’re doing these technical analysis and you can never be 100% sure what’s going to happen but you

Can analyze it and you can make it educated gu but you can never be 100% sure and the RSI is also good to have as well but yeah that’s why I like using a bunch of different Avenues here just so you can find out exactly where we’re

Going to be going anyways like I said none of this is financial advice I’m not a financial adviser if you do want these automated trading indicators with chart Prime definitely check out the link in the description for all of that and as always I’ll be back with another video