The dogecoin bear market that began in May last year has ended, according to veteran trader Peter Brandt. This followed Elon Musk's acquisition of Twitter. $DOGE crypto
Veteran trader Peter Brandt says the dogecoin bear market that began in May last year has ended. His comment came after the price of dogecoin soared following Tesla CEO Elon Musk’s acquisition of the social media platform Twitter.Veteran trader Peter Brandt shared his analysis of dogecoin Sunday. Brandt has been a futures and FX career trader since 1975. He is a chartist and the author of the Factor Report.
However, Brandt followed up with another tweet, warning traders not to fall for the common mistake of assuming that the end of a bear market automatically means a bull market has begun. He cautioned: Some people replied to his tweet, pointing out that it could be a false breakout and that a subsequent period of consolidation could determine where the price of dogecoin is actually headed. Many believe that the recent DOGE pump is “the Elon effect,” stemming from the Tesla CEO buying Twitter.