You are at: Home » Dogecoin Decoupling From Bitcoin Price? As Market Dips Investors Flock to Dogeverse

Dogecoin Decoupling From Bitcoin Price? As Market Dips Investors Flock to Dogeverse

Last updated on:
Fact Checker

DOGE Price Analysis: Dogecoin is decoupling from Bitcoin. However, DOGE price under pressure is pushing investors to explore Dogeverse.

Dogecoin (DOGE) is on the move, and DOGE price analysis reveals an emerging decoupling from Bitcoin as DOGE price defies market downturn – but with price under pressure – here’s why investors are now exploring Dogeverse.

Taking to Reddit, one analyst thinks Dogecoin (DOGE) is now charting its course, potentially decoupling from Bitcoin.

Over the years, DOGE and Bitcoin have been positively correlated, with DOGE prices soaring whenever BTC prices pump.

 

However, based on the analyst’s assessment, this could all be about to change.

DOGE Price Analysis: Dogecoin In Focus Amid Bitcoin Decoupling

In a post, the analyst is convinced that Elon Musk and other high-profile figures are involved in a potential “bait and switch” where Bitcoin holdings are dumped, causing a market crash. 

Once the retracement is over, the analyst suggests these heavyweights will funnel funds to Dogecoin, propelling it above Tether (USDT) to the third spot by market cap.

While the validity of these claims remains uncertain, Elon Musk’s continued influence on DOGE cannot be denied.

Though there is an ongoing lawsuit where the billionaire is accused of “deliberately pumping DOGE prices” in the past, this hasn’t prevented him from posting about Dogecoin on X.

On April 15, the billionaire shared an image highlighting the mainstream media’s “pain” over DOGE’s top-10 ranking. Presently, DOGE is the eighth most valuable coin, ahead of Cardano and Avalanche.

 

Though DOGE prices and trading volume rose moments after this tweet, the overarching market downtrend couldn’t be reversed – even by the top dog.

DOGE Price Analysis: Dogecoin is decoupling from Bitcoin. However, DOGE price under pressure is pushing investors to explore Dogeverse.

(DOGEUSDT)

DOGE will likely find reprieve once Bitcoin shakes off bears. Currently, Dogecoin is down 33% from 2024 highs of around $0.22.

However, while the downtrend remains, mirroring BTC’s, some supporters think Dogecoin will rally towards 2021 highs of around $0.75 if X integrates the popular meme coin in their payments platform.

All Eyes On The Dogeverse: Multichain Crypto Presale Hammers Multi-Million Raise – Here’s Why

With Dogecoin in focus and bears pressing on, more investors are training their eyes on Dogeverse (DOGEVERSE).

The multi-chain meme coin is rapidly gaining traction, raising over $5 million in its ongoing presale.

Dogecoin, one analyst thinks, is decoupling from Bitcoin. However, DOGE is under pressure, allowing investors to explore Dogeverse

DOGEVERSE will operate on Ethereum, Polygon, BNB Chain, Solana, Avalanche, and Base, a multichain feature that supporters will drive prices in 2024.

Moreover, holders cite DOGEVERSE’s capped supply of 200 million combined with staking as attractive attributes.

These features will likely create a supply squeeze, progressively lifting prices over time. 

Buy DOGEVERSE Here

EXPLORE: Aya: A New Vision For Blockchain Africa That Makes Web3 Easy

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Dalmas is an experienced journalist with over a decade in crypto, technology, and blockchain. His work and that of his partners have been featured in top news outlets, including Forbes, investing.com, and Entrepreneur, among others. He is passionate about crypto and is always on the lookout for the latest trends in these fields. Connect with Dalmas on X @Dalmas_Ngetich

View all Posts by Dalmas Ngetich

Free Bitcoin Crash Course

Learn everything you need to know about Bitcoin in just 7 days. Daily videos sent straight to your inbox.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
We hate spam as much as you do. You can unsubscribe with one click.
We hate spam as much as you do. You can unsubscribe with one click.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top