Dogecoin’s 24% Weekly Surge Doesn’t Change DOGE/BTC Bearish Outlook

Dogecoin’s Recent Rally: A Temporary Blip?

Dogecoin (DOGE) has seen a remarkable 24% weekly gain, sparking renewed interest in the meme coin. However, despite this recent surge, the DOGE/BTC ratio continues to suggest a bearish trend for Dogecoin in the long run.

The current price action of the DOGE/BTC ratio closely mirrors the pattern observed in late 2020. This similarity suggests that while Dogecoin may experience short-term gains, a sustained bullish trend is unlikely in the immediate future.

Traders and investors should remain cautious and carefully analyze the technical indicators before making any investment decisions. The DOGE/BTC ratio is a crucial factor to consider when assessing Dogecoin’s potential for growth.