Dogecoin creator Billy Markus is ready for a trend reversal in the memecoin
- Co-founder of Dogecoin, Billy Markus, recently commented on his bullish outlook on the Shiba-Inu-themed memecoin.
- Markus believes Dogecoin is ready for a trend reversal as it inches closer to $0.15.
- Analysts predicted the Dogecoin price trend could get interesting in the midterm if it remains above support.
Dogecoin creator recently asked users to shift their focus from hype and price to creating value in the memecoin’s ecosystem. Billy Markus now reveals that he is ready for a trend reversal in Dogecoin.
Dogecoin prepares for trend reversal as it climbs to $0.15
An IT engineer and co-founder of the Dogecoin network, Billy Markus took to Twitter today to comment on the Dogecoin price trend, days after asking users to shift their focus from price and hype around the memecoin.
Markus tweeted:
dog coin flirting with its old friend 15
— Shibetoshi Nakamoto (@BillyM2k) February 5, 2022
At the time of writing, Dogecoin is changing hands close to $0.15. Markus refers to $0.15 as Dogecoin’s old friend and reveals that he is ready for a trend reversal.
Oooh. I haven't looked for a few hours. I'm ready for a trend reversal. I want to feel that positivity again. Being optimistic is so much more enjoyable than assuming everything's going to implode at any moment.
— Prestige☢️ (@S0meW0rri3s) February 5, 2022
Markus had commented on Dogecoin’s future as the world’s micro-transaction platform, stating that the memecoin would fix the internet.
Analysts have evaluated the Dogecoin price trend and noted that the memecoin is at a make or break point. @WalterCripto, a pseudonymous crypto analyst, believes if Dogecoin holds support well, it could break resistance. The analyst believes that things could get interesting in the midterm.
$Doge held well the support, now is fighting the TR Ribbon, if it breaks the resistance things could get interesting in the midterm.
— Walter - TREND RIDER (@WalterCripto) February 6, 2022
Meanwhile personally I would just wait. pic.twitter.com/W5g8d5VXx2
@FedKassad, trader and analyst, considers that the Shiba-Inu-themed cryptocurrency is in the buy zone.
Surely not the worst entry. $DOGE pic.twitter.com/u0iTa2xNZ0
— FK (@FedKassad) February 5, 2022
FXStreet analysts have predicted that the Dogecoin price could remain stagnant while bulls attempt a takeover.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
