1 hour ago
0 0
BEARISH 📉 : Dogecoin risks 50%-70% pullback amid market volatility
Dogecoin Attempts Support Turnaround
- Dogecoin is attempting to convert the $0.1250 area into support after holding the $0.119-$0.120 zone.
- Currently trading between $0.119-$0.151, reaching a high of $0.156 in early January.
Potential for Parabolic Run
- Some analysts suggest Dogecoin may be ending a macro consolidation phase, potentially leading to significant gains.
- Historically, breakouts from long-term accumulation zones have resulted in substantial growth.
- Trader Tardigrade notes current performance mirrors past breakout patterns that led to multi-year highs.
Risks of Further Decline
- Despite optimism, TradingShot warns of potential 50%-70% pullback if selling pressure increases.
- Current support rests on the 350-day Moving Average, critical during previous bear cycles.
- If this level breaks, DOGE could target the $0.060-0.035 range.
- Potential bottom predicted by Q4 2026, based on Sine Waves analysis.
As of now, Dogecoin is trading at $0.125, reflecting a 1.4% decline on the weekly timeframe.
