Dogecoin and Bitcoin have a curious relationship. A recent analysis suggests that a current dip in the DOGE/BTC pairing might actually signal a big Dogecoin price jump.
A Repeating Pattern
Looking at weekly charts, a pattern emerges: before Dogecoin’s price explodes, the DOGE/BTC ratio usually drops to new lows. Simultaneously, Dogecoin’s price in USD starts climbing. This happened several times, notably before price surges earlier this year. This divergence – DOGE/BTC down, DOGE/USD up – is happening again.
What it Means
This means Bitcoin is currently outperforming Dogecoin. But if history repeats itself, this could be a prelude to a significant Dogecoin price increase. This could push Dogecoin past resistance levels around $0.20 and to multi-month highs. One analyst even predicts “a massive pump” is coming.
Current Prices and Predictions
Right now, Dogecoin is trading around $0.1758, down about 7.3% in the last 24 hours. Bitcoin is also down slightly. The DOGE/BTC pair is currently at 0.00000170, a new low.
If the pattern holds true, this could trigger another Dogecoin price surge. Based on this, one analyst predicts Dogecoin could hit new all-time highs, potentially exceeding $0.70.
