Dogecoin

Cryptocurrency

<a href="https://bitcoinist.com/dogecoin-price-is-reversing/" target="_blank" rel="noopener ">Dogecoin</a> (DOGE), like the other meme coins, has been facing severe bearish pressure and has not been able to attract a meaningful rally for a while now. Due to its recent price declines, determining the next price trajectory of the crypto asset has been a major discussion within the cryptocurrency landscape. 
Delving into the subject, popular cryptocurrency analyst and enthusiast YG Crypto has <a href="https://x.com/ygcrypto/status/1806228797467058360" target="_blank" rel="noopener nofollow">issued</a> a cautionary projection that has drawn the interest of the Dogecoin community, predicting that the largest meme coin’s value may drop to $0.09. 
<h2 id="dogecoin-s-next-price-trajectory-to-be-determined-by-a-breakout">Dogecoin’s Next Price Trajectory To Be Determined By A Breakout</h2> 
YG Crypto’s analysis is made in the midst of persistent market instability and increased volatility in the cryptocurrency space, which has experienced notable price swings and a bearish trend in recent weeks. His forecast delves into DOGE’s recent price action, especially a critical support zone that could lead to a price decline if the asset fails to hold around it. 
According to YG Crypto, Dogecoin is currently trading close to a crucial support zone between $0.11200 and $0.11500. Should DOGE break below the support range, the expert anticipates a deep <a href="https://bitcoinist.com/dogecoin-shiba-inu-price-crash/" target="_blank" rel="noopener ">correction</a>, possibly reaching the $0.095 threshold. “The overall downward channel also suggests a bearish bias,” the analyst added. 
<img loading="lazy" decoding="async" class="size-large wp-image-307521" src="https://bitcoinist.com/wp-content/uploads/2024/06/YG-Crypto-Dogecoin-Chart.jpg?w=980&amp;resize=980%2C421" alt="Dogecoin" width="980" height="421" srcset="https://bitcoinist.com/wp-content/uploads/2024/06/YG-Crypto-Dogecoin-Chart.jpg?w=2249 2249w, https://bitcoinist.com/wp-content/uploads/2024/06/YG-Crypto-Dogecoin-Chart.jpg?w=640 640w, https://bitcoinist.com/wp-content/uploads/2024/06/YG-Crypto-Dogecoin-Chart.jpg?w=768 768w, https://bitcoinist.com/wp-content/uploads/2024/06/YG-Crypto-Dogecoin-Chart.jpg?w=980&amp;resize=980%2C421 980w, https://bitcoinist.com/wp-content/uploads/2024/06/YG-Crypto-Dogecoin-Chart.jpg?w=1536 1536w, https://bitcoinist.com/wp-content/uploads/2024/06/YG-Crypto-Dogecoin-Chart.jpg?w=2048 2048w, https://bitcoinist.com/wp-content/uploads/2024/06/YG-Crypto-Dogecoin-Chart.jpg?w=750 750w, https://bitcoinist.com/wp-content/uploads/2024/06/YG-Crypto-Dogecoin-Chart.jpg?w=1140 1140w" sizes="(max-width: 980px) 100vw, 980px" data-recalc-dims="1"> 
Although DOGE may be poised for a potential downward trend, YG Crypto believes there is still a possibility that the digital asset could turn around and start moving in an upward trajectory. 
The expert noted that DOGE might be able to overcome dynamic resistance and bounce back to the $0.170 and $0.176 price levels once again if it can maintain a breakout above $0.16 and reach the upper limit of the channel. 
This prediction from YG Crypto emphasizes how unstable Dogecoin’s price has been lately and how important market sentiment is in determining its value.​ 
<h2 id="is-a-1-or-2-doge-possible">Is A $1 Or $2 DOGE Possible?</h2> 
Dogecoin, which is currently trading at about $0.12, has had difficulty holding onto its value during the wider market decline.​ Cryptocurrency analyst Kaleo has <a href="https://x.com/CryptoKaleo/status/1805704074203218292" target="_blank" rel="noopener nofollow">offered</a> insights on the negative movement, noting that he would not be surprised if it dropped to $0.08 or $0.1. 
Kaleo highlighted that despite previous price pumps of 6,000% and 30,000% witnessed during the early days of <a href="https://bitcoinist.com/dogecoin-whales-exit-total-supply-plunges-almost-9/" target="_blank" rel="noopener ">DOGE</a>, it has been moving sideways or down ever since. Given that these explosive moves occurred 8-9 months post-Bitcoin Halving, the analyst does not expect any major move until December and February next year. 
Taking all of this into consideration, Kaleo believes the bullish trend could reverse and send DOGE to the 8 – 10 cent region, retracing the upward gain seen in February this year. “A similar trend break with a 30% drawdown and retrace happened in August of 2020, several months before the beginning of DOGE going mainstream and gigasending,” he added. 
Even though Kaleo foresees a bearish trend for Dogecoin, he still believes it could hit the $1 and $2 threshold in the upcoming months, triggered by a <a href="https://bitcoinist.com/dogecoin-shiba-inu-memecoins-top-coins-daily-users/" target="_blank" rel="noopener ">memecoin</a> supercycle. 
<img loading="lazy" decoding="async" class="size-large" src="https://www.tradingview.com/x/V7NinD69/" alt="Dogecoin" width="2283" height="1265">

Dogecoin Bearish Alert: Analyst Warns Of Potential Slide To $0.09, Here’s Why

Съдържание

Bitcoinist

Други статии, публикувани на 28.06.2024 г.

Investors Drive Bonk Prices Higher

Top Selling NFTs This Week – Bored Ape, CryptoPunks, BACGenesis And More

3 TON Meme Coins To Buy Now For July

US presidential debate inexplicably omits AI and quantum

Over $755 Million Worth of Crypto Tokens Set for Release as Vesting Periods End for 40+ Projects

Bolivia Lifts Ban on Bitcoin and Crypto Payments, Bullish Momentum Ahead

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!