Bitcoin halving in 2016 failed to impact DOGE decisively, but the 2020 event resulted in a roller-coaster ride for the meme token.
Bitcoin halvingWhile it retraced to $0.152 at press time due to profit-taking, it became clear that DOGE speculators were linking the coin’s growth prospects with the halving.
While the one in 2016 failed to impact DOGE decisively, the 2020 event led to a 4% decline in the meme coin’s price in a week, and nearly 6% in a month, AMBCrypto examined. However, the price started to rise six months after the halving. By the end of 2020, DOGE hit $0.004592, up 75% since halving. The market then gained bullish momentum, and DOGE exploded to its all-time high , just about a year since halving.DOGE army would want a repeat of that feat. To their delight, DOGE could achieve it much sooner this time around.that DOGE could hit or get close to its ATH of $0.73 by July/August. Yomi came to the conclusion by averaging out historical data from previous cycles.
Whale investors appeared bullish on the coin’s prospects. According to AMBCrypto’s analysis of Hyblock Capital’s data, whales had higher long exposure than retail onAniket Verma works as a journalist at AMBCrypto. Contrary to most who are primarily interested in merely tracking price movements of cryptos, his focus is on examining the niche intersection between cryptocurrencies and traditional finance.
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