Dogecoin (CCC:[B][U]DOGE-USD[/U][/B]) investors on the cryptocurrency’s Reddit believe that a price suppression is in effect that’s keeping it from rising higher.
The top is gaining hefty traction on the subreddit with more than 7,100 upvotes and an 89% upvote rate. That means many DOGE investors on the forum are buying into the idea that one large whale is responsible for the price suppression theory.
This user points to the fact that the price rocketed higher and had to eventually fall to find a reference point price. Based on their estimates, the price of dogecoin will settle somewhere around 35 cents.
No matter whose right, there’s no denying that it’s a rough day for DOGE investors. The price of the cryptocurrency is down 7.9% and is hovering around the 30 cents range as of this writing. Even so, dogecoin is still up 6,477.7% since the start of the year.
The real question DOGE lovers should be asking is will it rise again? There are definitely arguments for it to do so, but there are also arguments against that. Investors that want to see both sides of the debate can check out this link.
If dogecoin investors are done with the Doge Army, there are always other options in the crypto market.
