Does DeepSeek Harm Dogecoin? Here’s What Analysts Think

On the eve of the Chinese New Year, the large model DeepSeek shocked the cryptocurrency market with its outstanding performance and extremely low development costs, causing Dogecoin to plummet to the heartbreaking price of $0.2. Why would DeepSeek affect Dogecoin, and is this impact fatal? Analysts don’t think so. On the contrary, Javon Marks believes that Dogecoin could reach $20 in this cycle.

At the end of January 2025, the launch of DeepSeek influenced people’s perception of the United States’ dominance in AI technology, causing the stocks of the seven major U.S. tech giants to plummet, with NVIDIA falling as much as 17%. Why would this affect cryptocurrencies? Experts believe that this is because, in the eyes of investors, the relationship between U.S. stocks and Bitcoin, as a representative of cryptocurrencies, is very close. Dow Jones market data shows that the rolling correlation indicator between Bitcoin and the Nasdaq Composite Index has reached 0.5, meaning that a decline in U.S. stocks can trigger panic in the Bitcoin market, leading investors to sell their cryptocurrencies.

However, the cryptocurrency market also has its own independence. Analysts generally believe that after the market calms down, Dogecoin will rebound without a doubt. After conducting technical analysis, Javon Marks believes that in past bull markets, Dogecoin soared 90 times in 2017 and an astonishing 306 times in 2021. The excellent performance in each cycle indicates that Dogecoin may experience exponential growth again, potentially soaring to over $20 in the current cycle. Marks’ charts show a series of highs and lows that appear before each breakthrough, indicating that the next surge already has a strong foundation.

From a macro perspective, as the global geopolitical situation changes, the idea that BTC could rise to $1 million is being mentioned by more and more authoritative figures. Once BTC reaches such a price, it is entirely possible for Dogecoin to rise parabolically to $20. In this light, DeepSeek’s impact on Dogecoin this time has instead brought investors an opportunity to buy at a low price.

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