Dogecoin's (CRYPTO: DOGE) on-chain metrics and price are deteriorating, but bullish traders remain optimistic about a major move ahead.
Trader Notes: Crypto trader Javon Marks believes that the recent pullback doesn't alter Dogecoin's historical price cycles.
He sees DOGE still in its third bull cycle, with a move beyond its all-time high of $0.73905—implying a 252% surge from current levels.
Trader Tardigrade compares DOGE's price action to the 2017-2018 bull run, indicating it could be setting up for its next explosive move.
Statistics: Crypto chart analyst Ali Martinez points out that long-term DOGE holders are in denial, suggesting the holders may be refusing to accept that the meme coin is underperforming relative to other assets or that its long-term potential has diminished.
It implies that they are holding onto DOGE in expectations of a rebound as they dismiss negative news or fundamental concerns.
Martinez also pointed out that DOGE network activity has collapsed by 95%, plunging from 2.66 million active addresses in November 2024 to just 130,282 currently.
What's Next: If Dogecoin follows historical cycles, its current stagnation could be setting up a breakout—but holders need to watch for key support levels to avoid further downside.
Read Next:
Image: Shutterstock
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here.
