Why Dogecoin, DOT, AVAX might not be a good option for your portfolio

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

Since 1 January, the prices of alternative coins such as Fantom [FTM] have witnessed a remarkable increase of over 100%, while the comparatively recent Aptos [APT] has experienced an exponential growth of 300%., in the past 42 days, global cryptocurrency market capitalization has rallied by 24%.

Let’s evaluate the performance outlook of the top three altcoins with the highest market capitalization among the 25 recommended by Doosan, namely DOT, DOGE, and AVAX in the short term, and what can be expected by those who hold them.An examination of the daily chart price trends of DOT, DOGE, and AVAX revealed a shared pattern – all three have started a new bearish cycle.showed. Following several weeks of the rally, its price eventually peaked at $7.

In a continued decline, the positions of these momentum indicators revealed that buying pressure for DOT had weakened in the past few weeks, and a shortfall of liquidity to drive up price will occasion a prolonged price decline.Things were the same for the leading meme coin DOGE. At press time, DOGE exchanged hands at $0.08456. Its price has grown by 20% since the beginning of the year.

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