Dogecoin (DOGE) Trader Anbessa Predicts Rally, Sherpa Expects Drop to $0.08

Dogecoin's DOGE/USD poor performance compared to other meme coins continues to be cause for debate among traders.

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Dogecoin price action has largely disappointed traders in 2023, despite the coin’s status as the original meme coin.

While other meme coins like SHIB and ELON have rallied several hundred percent in the past year, DOGE price is up a meager 20% from last year.

In fact, DOGE is still down over 90% from all-time highs.

Now, pseudonymous trader Anbessa, who accurately predicted DOGE’s 8,000% rally in the past, is signaling a shift in the meme coin landscape.

“We’re in a meme bull market without DOGE,” the trader said.

However, Anbessa, who predicted that meme coin OG might rally towards the end of the current meme cycle, said he recently made a move that might surprise traders.

“I’ve recently started accumulating $DOGE.”

The trader said the move is a signal that he is now speculating on the dino coin.

“I’m speculating on DOGE to rally at the later stages of this meme cycle.”

Anbessa said the move is a calculated risk and he’s comfortable making the trade due to the favorable risk/reward ratio.

“It’s a dino coin and I’m speculating on it to go extinct, but I still think it’s a good trade.”

Anbessa said that even if DOGE price reaches $1, it would be “a nice tenbagger, but it’s not the same generational wealth setup.”

“I think we had that in 2020, Adapt called it the real opportunity and I agree with him.”

Another veteran trader, Sherpa, recently said he expects Dogecoin to keep bleeding until $0.08.

“Pains me to say it but $DOGE probably keeps bleeding until the .08s. I still think this is probably a decent one for this cycle for passive investors but eh.”

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