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DOGEBTC trade ideas

The Scrypt Miner's DilemmaSuch problem, much wow. Dogecoin is 'merge mined' with Litecoin. This means that as a favor to Dogecoin (and heck considering the stupidity of retail investors, a shockingly profitable one) Litecoin miners simultaneously contribute work to Doge blocks as they perform Litecoin's POW. This decision by Litecoin miners (and the ltc community I suppose) to help Doge prevent a certain death many years back was perhaps an easy one: not much to lose with a shot at some profits in the form of Doge (if it happened to survive). Fast forward to the last couple of years: Doge has managed to (lbf temporarily) overtake Litecoin a midst the 2021 crypto bull run. Why was this again? Oh ya, b/c cool guy said the things about how great it is...oh, and he may not be so cool anymore b/c of (at least what would appear on the surface) a fairweather easily swayed weak hands perspective on hodling cryptocurrency. The logic must have went something like this: everything's going up, cool guy is richest guy in the world, cool guy like coin: I like coin! Shut up and take my money! Welp, I hope cool guy doesn't have even weaker hands with the meme coin than he does with Bitcoin. lol. Or Twitter. double lol. In anticipation of the Litecoin Halving (litecoinblockhalf.com) it would perhaps make economic sense for miners to slowly seek to sell a bit of coin over the coming year in anticipation of their block reward being cut in half to help smooth the transition. It's no secret that we here at LARP are wildly bullish on Litecoin over the coming year and beyond and are expecting a historic bull run which has likely already begun. In it of itself, it was only a matter of time before Litecoin would reclaim it's market dominance over Doge. In a sense, the 2021 Doge bubble was blessed by Litecoin miners and allowed to happen as it benefited them handsomely. It's some-what astonishing how high the market cap actually went, but when you combine retail frenzy with the ignorance of market-making industry wide 'index' based funds--magic can happen. But I digressss. Considering all of the above, the question for the scrypt miner over the next year becomes: WHICH COIN TO SELL!? The legitmate one that is on the rise who's supply available for sale is about to be drastically reduced or the wildly overvalued meme coin with an infinite supply? Hmmm. Tough one. Perhaps a bit of a vicous feed-back loop could develop here around this narrative. Does any of this stuff even really matter? Probably not, but I'd say the logic is at least more sound than the 'fundamental' reasons for Dogecoin's epic rise. lol. Anyway, you know us, above all we only really care about TA, so lets talk charts. LTCUSD/DOGEUSD Ratio:
by ltc-joe
2
Dogecoin has been obliterated against BTC since last year.Dogecoin has been obliterated against BTC since last year. I can't recommend going long on DOGE right now. I would only spot buy it and only hold it with no leverage for the next bubble phase and hope to catch some sales in a few years. Dogecoin does have its moments when it shoots so it is nice to have some exposure. But Doge vs BTC, BTC has been the big winner as Dogecoin has lost a bunch of its value. It is a value buy below 350 Sats, but yeah, you have to buy this with extra extra money.
Short
by aeloxcom
DOGE/BTC - Doge Breakout on its way ?Is there a breakout on its way for DOGE? We received a daily buy signal for the DOGE-BTC pair in the beginning of March. We bottomed out and seems to make the reversal. My targets: .00000503 (.236 fib) .00000638 (.382 fib) .00000747 (.5 fib) If we break through the descending triangle we will probably not go in a straight line towards the .236 fib but fist bounce back on the top of the descending triangle to find some support. Don't forget to get profit or set alerts when we hit our targets. You can always buy it back on a retrace. It will not go in one straight line to the next targets. Also keep a close eye on BTC . If BTC starts to pump it is better to move some of your profits into BTC . Your end goal should always be to increase your BTC amount. Cheers and have fun. ° Be Patient – Don’t panic – Trade Emotionless. ° Never lose a winning trade. You can always get back in later.
Long
by seoco
1
Hibernating DOGE starting to stir?DOGE doesn't quite seem ready yet, but it looks close to turning the corner. It has recently entered a macro accumulation zone--something we haven't seen for DOGE since early 2021. For those who want some exposure, now might be a good time to DCA in. The 200 EMA could be too strong to break here and I'm expecting a bit of a pullback. I'm waiting until I see an obvious buy signal in this accumulation zone--specifically, Bullish divergence on the 4-hr chart. Good Luck ---------------------------------------------------------------- These are my personal views and not financial advice. Please do your own research before investing. I'd love to hear your thoughts, ideas and feedback. Feel free to Comment and I'll try and get back to you quickly. If you appreciated this analysis, consider Liking or Following . Thanks!
by mercury_rising
2