A crypto analyst has suggested that Dogecoin price may parallel XRP’s performance during the previous bull market. Cryptocurrencies like Bitcoin and Ethereum surged to new all-time highs in the 2021 bull run while XRP struggled to break past its previous peak. This analysis has sparked discussions among many crypto participants, highlighting the potential for a market leader like Dogecoin to follow in the footsteps of XRP in 2021.
Dogecoin’s price action in the past few years closely mirrors XRP’s price years back.
The analyst believes that Dogecoin could face significant resistance at the 0.786 Fibonacci extension level, located near $0.42, following a similar pattern to XRP’s performance, where the price was similarly repelled at the 0.5 Fibonacci extension from its 2020 low.
