Dogecoin set for ‘steep price correction ahead,’ warns expert
Dogecoin (DOGE) is facing another round of bearish pressure, aligning with the general cryptocurrency market narrative, with a trading expert warning of more losses for the top meme coin. The potential drop stems from a technical formation where DOGE is experiencing a bearish crossover between the Market Value to Realized Value (MVRV) Ratio and its 30-day Simple Moving Average (SMA). Historically, this has signaled downward pressure, according to prominent trading expert Ali Martinez in an X post on February 2. DOGE price analysis chart. Source: Ali_charts The MVRV Ratio is a key metric to assess whether an asset is overvalued or undervalued relative to its realized price. When the ratio crosses below its 30-day SMA, it often suggests that holders are entering a period of profit-taking, leading to increased selling pressure. Picks for you ...