This Analyst Predicted The Dogecoin Price Crash 2 Days Ago, Full Prediction Shows A Further 30% Decline

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As a seasoned researcher with over two decades of experience in the financial markets, I find myself constantly intrigued by the unpredictable world of cryptocurrencies. The latest forecast by ‘MMBTrader’ about Dogecoin‘s potential 30% price crash has caught my attention, especially given his recent accurate prediction.

2 days have passed since a cryptocurrency expert predicted a drop in Dogecoin’s value, which has since transpired. As per the analyst’s most recent predictions, Dogecoin seems to be preparing for a more significant fall, potentially experiencing a 30% decline from its current trading price.

Analyst Forecasts 30% Price Crash 

Over the past week, the value of Dogecoin has plummeted to $0.35, representing a significant 14% drop. Just a few days ago, this cryptocurrency was being bought and sold at prices above $0.4, thanks to a steep increase triggered by the enthusiastic investment climate surrounding Donald Trump’s win in the U.S. Presidential elections.

As a TradingView crypto analyst, I’ve been tracking Dogecoin, and my recent analysis predicts further potential declines. Analyzing its price action and future movements, I see that the current trading price of DOGE, hovering above $0.3, is edging closer to a significant resistance level highlighted in red at approximately $0.438.

On the graph, a temporary decrease in Dogecoin’s value, represented by the red arrow, could be imminent and might result in a fall to the key support area around $0.25. This significant price plunge would equate to approximately a 30% reduction from Dogecoin’s current pricing. Furthermore, this anticipated price drop is hypothesized as a retracement, which corresponds with the 0.618 Fibonacci level on the chart.

According to the analysis by TradingView, if Dogecoin’s price manages to create robust support at approximately $0.25, it might signal a continuation of a bullish trend. This situation could potentially lead to an upward surge in Dogecoin’s price in the short term.

In the future, the green arrows on the analyst’s Dogecoin price chart indicate a possible boost or surge in its value. The analyst suggests that if Dogecoin manages to bounce back from the $0.25 support level, it could initiate a fresh bullish trend. Moreover, he anticipates that Dogecoin might reach a new bullish goal around the $0.75 region, which would represent a substantial increase and potentially set new record highs.

As an analyst, I’ve identified the crucial level at $0.45 in my analysis of Dogecoin. A dip down to $0.25 would signify a significant 30% drop, but on the flip side, a potential rise to $0.75 indicates a substantial 115% price surge.

Dogecoin Price Breakout To $1 Sighted

Despite experiencing fluctuations and drops, well-known crypto expert Trader Tardigrade remains optimistic about Dogecoin’s future direction. The analyst points out that Dogecoin is presently moving within a specific range, as indicated by the purple box on the price graph, between approximately $0.33 and $0.49.

Examining the provided graph, this area signifies a phase of consolidation where the value of Dogecoin seems to bounce between potential resistance and support levels. If the price breaches the upper limit of this range, it might further fuel Dogecoin’s upward trend towards unprecedented new highs at approximately $1.05.

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2024-12-20 01:16