Analyst warns of 37% Dogecoin drop to $0.06 if support breaks
Headline: Analyst warns DOGE could drop 37% to $0.06; others see macro bull setup
Dogecoin bounced 3% to $0.091, but a descending triangle on the short-term chart signals downside risk. A break of support could send Dogecoin (DOGE) toward $0.060, per analyst views shared by NewsBTC.
Over the past two weeks, DOGE traded in a $0.086–$0.100 band and hit $0.104 midweek before fading the move according to NewsBTC. Ali Martinez highlighted a descending triangle since mid-January, with a floor near $0.088 and trendline resistance around $0.097 source.
If price loses the triangle base, the measured move implies a 37% drop to ~$0.060. That level acted as macro resistance and support in 2022–2023 NewsBTC.
Other analysts point to a bullish macro picture. Trader Tardigrade told followers to zoom out, calling DOGE “insanely bullish,” citing a large monthly bullish pennant forming since 2021 and multiple successful retests of its lower boundary. “When this breaks to the upside, expect a massive surge. The setup is ready” X post.
February closed back above the lower boundary, which the analyst views as constructive for a recovery if history rhymes source.
Bitcoinsensus tracks “mini cycles” since the 2022 bottom, with accumulation, markup, and pullback phases producing 190% and 480% rallies in early and late 2024. A break of the one‑year downtrend could target ~$0.75 if the pattern repeats X post NewsBTC.
Key levels to watch now:
- Range 0.086–0.100 source
- Support 0.088, resistance ~0.097 source
- Breakdown target 0.060 source
- Macro target on breakout 0.75 source
