{"id":8200,"date":"2022-10-31T09:28:15","date_gmt":"2022-10-31T09:28:15","guid":{"rendered":"http:\/\/www.cryptoheretostay.com\/?p=8200"},"modified":"2022-10-31T09:28:16","modified_gmt":"2022-10-31T09:28:16","slug":"peter-brandt-believes-doge-bear-market-is-over-but-bulls-yet-to-gain-control","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=8200","title":{"rendered":"Peter Brandt believes DOGE bear market is over but bulls yet to gain control"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n   <\/p>\n<p>Peter Brandt, a veteran future and FX trader, said on Oct. 30 that the Dogecoin (DOGE) spike signals the end of the bear market for the memecoin.\u00a0<\/p>\n<p lang=\"en\" dir=\"ltr\">This is called a bear channel, the upside violation of which has ended the bear market that began at the May 2021 high $DOGE pic.twitter.com\/pZT5yxMje6<\/p>\n<p>\u2014 Peter Brandt (@PeterLBrandt) October 30, 2022<\/p>\n<p>However, following up on his previous tweet, the veteran investor warned traders against assuming the end of a bear market automatically signals the beginning of a bull market.\u00a0<\/p>\n<p lang=\"en\" dir=\"ltr\">A common mistake made by novice and wanna-be traders is assuming that an end to a bear phase of a market is automatically a signal that a bull market has begun. This assumption is most often wrong https:\/\/t.co\/Ib2T86Md0n<\/p>\n<p>\u2014 Peter Brandt (@PeterLBrandt) October 30, 2022<\/p>\n<p>In early 2021, Dogecoin experienced enormous gains, reaching a staggering market capitalization of $88.8 billion. Its wild run came to an abrupt end in May. Despite several attempts to escape the massive bear channel, Dogecoin continued to fall.\u00a0 <\/p>\n<p>But the meme coin is soaring again, as it surged by over 97%, according to CryptoSlate data. $DOGE price rose to $0.1388 on Oct. 29 from $0.0602 on Oct. 25.<\/p>\n<p>In addition, IntoTheBlock data shows that 62% of DOGE holders are \u201cMaking Money at Current Price,\u201d beating Bitcoin (BTC) and Ethereum (ETH) hodlers by 54% and 57%.<\/p>\n<p>DOGE\u2019s performance has been closely linked to Elon Musk\u2019s recent purchase of Twitter.<\/p>\n<p>After Elon Musk changed his Twitter bio to \u201cChief of Twit\u201d on Oct. 26, DOGE\u2019s price rallied immediately after visiting Twitter\u2019s HQ in San Francisco that day.<\/p>\n<p>Other meme coins are also following Dogecoin\u2019s price rally. SHIB\u2018s price rose 30% in one day to $0.00001519 on Oct. 29, its highest level since August.\u00a0<\/p>\n<h2><strong>Reactions from other traders:\u00a0<\/strong><\/h2>\n<p>Many traders have already made significant returns from the price surge of Dogecoin. According to the screenshot posted by the SlumDOGE Millionaire, he made over $250,000 in unrealized profits in 24 hours after DOGE jumped by 75%.<\/p>\n<p lang=\"en\" dir=\"ltr\">To be honest, being up $250K in one day is insane. That\u2019s a quarter of a million dollars made in hours\u2026 #dogecoin \ud83e\udd2f pic.twitter.com\/417i7miryw<\/p>\n<p>\u2014 SlumDOGE Millionaire (@ProTheDoge) October 29, 2022<\/p>\n<p>This is the first time Dogecoin has traded above $0.10 since May. Crypto traders remain bullish about DOGE, with many speculating the price will reach $1. However, it appears that Crypto Bitlord is more bullish as he suggests that the DOGE price could go as high as $28 if it follows its previous pumps.<\/p>\n<p lang=\"en\" dir=\"ltr\">If $DOGE pumps like it did in the past, that will leave us at approximately $28 per a dogecoin pic.twitter.com\/oaZaygPK73<\/p>\n<p>\u2014 $THE Crypto Bitlord (@crypto_bitlord7) October 28, 2022<\/p>\n<p>On the other hand, popular trader @rektcapital believes the current $DOGE bull market will also affect other altcoins.\u00a0<\/p>\n<p lang=\"en\" dir=\"ltr\">The fact that $DOGE broke a 500+ day macro downtrend means that some other Altcoins may be able to do so in the future too#DOGE #dogecoin #Crypto<\/p>\n<p>\u2014 Rekt Capital (@rektcapital) October 30, 2022<\/p>\n<h2>Get an Edge on the Crypto Market \ud83d\udc47<\/h2>\n<p>Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits   <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/peter-brandt-believes-doge-bear-market-is-over-but-bulls-yet-to-gain-control\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Peter Brandt, a veteran future and FX trader, said on Oct. 30 that the Dogecoin (DOGE) spike signals the end of the bear market for the memecoin.\u00a0 This is called a bear channel, the upside violation of which has ended the bear market that began at the May 2021 high $DOGE pic.twitter.com\/pZT5yxMje6 \u2014 Peter Brandt [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8201,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-8200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8200","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8200"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8200\/revisions"}],"predecessor-version":[{"id":8202,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8200\/revisions\/8202"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/8201"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}