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Dogecoin

<a href="https://bitcoinist.com/crypto-analyst-bullish-on-ethereum-and-xrp/">Crypto analyst CrediBULL Crypto</a> has revealed his bearish expectations for the foremost meme coin, Dogecoin (DOGE). Based on his analysis, the <a href="https://bitcoinist.com/dogecoin-sell-off-10-billion-doge/">crypto token</a> could drop to as low as $0.5 soon enough.&nbsp;&nbsp; 
<h2 id="how-dogecoin-could-drop-to-as-low-as-0-5">How Dogecoin Could Drop To As Low As $0.5</h2> 
CrediBULL Crypto mentioned in an X (formerly Twitter) post that <a href="https://bitcoinist.com/dogecoin-doge-price-reach-1/">Dogecoin</a> could drop to that price level depending on Bitcoin’s movement. He further revealed that he would be looking to open a short position if the meme coin first rose to between $0.18 and $0.20. Meanwhile, in a <a href="https://www.youtube.com/watch?v=1XdRDt02G7g" rel="nofollow noopener" target="_blank">video</a> posted on his YouTube channel, the analyst explained why he believed that <a href="https://bitcoinist.com/dogecoin-holder-profitability-high/">Dogecoin</a> could indeed drop this low.&nbsp; 
<img loading="lazy" decoding="async" class="alignnone size-medium wp-image-296400 aligncenter" src="https://bitcoinist.com/wp-content/uploads/2024/04/Dogecoin_0575c4.png?w=512&amp;resize=512%2C256" alt="Dogecoin" width="512" height="256" srcset="https://bitcoinist.com/wp-content/uploads/2024/04/Dogecoin_0575c4.png?w=512&amp;resize=512%2C256 512w, https://bitcoinist.com/wp-content/uploads/2024/04/Dogecoin_0575c4.png?w=360 360w" sizes="(max-width: 512px) 100vw, 512px" data-recalc-dims="1"> 
According to CrediBULL Crypto, Bitcoin will likely suck a lot of liquidity from altcoins as it begins to rise. This will cause crypto tokens like Dogecoin to experience significant price declines since there isn’t <a href="https://bitcoinist.com/dogecoin-shiba-inu-meme-coins/">enough liquidity</a> to sustain an upward trend. Specifically, he noted that DOGE’s decline to $0.5 will come when <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-100000-cardano-dead/#:~:text=Why%20Cardano%20Is%20Dead,non%2Dexistent%E2%80%9D%20on%20it." rel="nofollow noopener" target="_blank">Bitcoin hits $100,000</a>, as he predicts that is when the flagship crypto token will suck up most of the liquidity in the market.&nbsp; 
The crypto analyst further claimed that although it might seem unfathomable, Dogecoin dropping to such lows is possible considering the massive rise it already made against its Bitcoin pair. As such, he stated that a <a href="https://bitcoinist.com/dogecoin-major-support-doge/">50% retracement</a> is “nothing,” bearing this in mind.&nbsp; 
Going forward, he expects Dogecoin to face rejection, like other altcoins, on its next leg up and then drop to between $0.9 and $0.10. He added that a relief pump would likely follow after that, but the meme coin will face another rejection, which will cause its price to “come further down and bleed as Bitcoin skyrockets.” 
<h2 id="dogecoin-will-still-rise-to-1">Dogecoin Will Still Rise To $1</h2> 
Despite his bearish expectations for Dogecoin, CrediBULL Crypto “100%” agrees with those who have predicted that the meme coin <a href="https://bitcoinist.com/crypto-pundit-predicts-price-surge-for-dogecoin/#:~:text=Crypto%20Pundit%20Predicts%20Massive%20Price%20Surge%20For%20Dogecoin%20%E2%80%93%20Here's%20The%20Target&amp;text=Crypto%20analyst%20DonAlt%20has%20provided,from%20its%20current%20price%20levels.">will rise to $1</a> in this <a href="https://bitcoinist.com/bitcoin-bull-market-glassnode/">market cycle</a>. He, however, remarked that this move won’t be as straightforward as some other crypto analysts <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-break-1-weeks-analyst-why/" rel="nofollow noopener" target="_blank">claim</a> it would be.&nbsp; 
Based on his expectations, CrediBULL Crypto disagrees that <a href="https://bitcoinist.com/dogecoin-major-support-doge/">Dogecoin has bottomed out</a> and will begin to move unfettered to the upside. Instead, he predicts that the meme coin will only make this move after liquidity in the crypto market has rotated to Bitcoin and major cap tokens. Once that is done, he expects that memes will be at the tail end of the rotation, and that is when Dogecoin will make <a href="https://bitcoinist.com/dogecoin-doge-price-can-reach-1/">this parabolic rise to $1</a>.&nbsp;&nbsp; 
At the time of writing, Dogecoin is trading at around $0.16, up over 1% in the last 24 hours, according to <a href="https://coinmarketcap.com/currencies/dogecoin/" rel="nofollow noopener" target="_blank">data</a> from CoinMarketCap. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/fjnr9ykF/" alt="Dogeocoin price chart from Tradingview.com" width="3286" height="1530">

Can Dogecoin Reach $0.2? Crypto Analyst Reveals Bearish Expectations

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