Our Dogelon Mars price prediction is still bearish as the price has failed to break out of the downtrend. In fact, the market sentiment has become even more bearish as the Bitcoin price tumbled once again. ELON coin has been one of the worst performing memecoin of this year. The popular dogcoin has depreciated by almost 81% since the start of the year.
Memecoins are the hardest hit sector of the ongoing crypto bear market. Most coins are trading at only a fraction of 2021 all-time highs. Many early holders have already exited, and top buyers have no option but to hold their bags in the hope of a relief rally.
At the time of writing, Dogelon Mars price is trading at $0.00000030. The coin has gained 0.89% within the last 24 hrs. On the higher timeframe, the coin is 88% down from its October 2021 all-time high of $0.00000259.
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Dogelon Mars Price Prediction
A look at the ELON USD price chart shows a prolonged bearish accumulation phase. Price has been trading in the $0.00000029-$0.00000043 range for the past 3 months. Although memecoins like SHIB and DOGE had their relief rallies, Dogelon failed to show any significant recovery. Consequently, the investor interest in the project has hit its lowest level.
Any Dogelon Mars price prediction would stay bearish as long as the price stays within the above-described range. Only a breakout and a higher high than the $0.00000060 level could flip the bearish outlook to bullish. Therefore, sitting on the sideline and waiting for a breakout is better.
It is also worth mentioning here that a daily closure below the $0.00000029 level could trigger another bearish leg for ELON crypto. Hence this level might act as a good stop loss for any long trade.