Dogecoin Price Warning: Analyst Predicts Major Drop if Support Fails
We may earn commissions from affiliate links or include sponsored content, clearly labeled as such. These partnerships do not influence our editorial independence or the accuracy of our reporting. By continuing to use the site you agree to our terms and conditions and privacy policy.
A prominent crypto analyst, known as Cheds, has issued a warning about Dogecoin's (DOGE) potential decline amid the ongoing market correction.
The strategist believes that DOGE could see a significant drop if it fails to hold a critical support level.
According to Cheds, Dogecoin might face a sharp correction of around 33%, pushing its price down to the $0.11-$0.12 range if it loses stability at $0.16.
He suggests that the current market structure doesn’t offer much optimism for DOGE, indicating that the memecoin could be heading for a lower bottom before finding solid ground.
Read More:
During a recent strategy discussion, Cheds emphasized that the chart looks unfavorable, highlighting a strong descending supply trend.
He pointed out that there is little reason to feel optimistic about Dogecoin’s performance in the near term, as the chart signals a potential move toward testing lower price levels.
At the time of writing, Dogecoin is trading at $0.172 after a 16% decline in the past 7 days.
Commentaries 
Fill in necessary fields and publish