CandleFocus

How Low Can Dogecoin Go Before It Rebounds? Expert Forecasts

Author: Content Editor
Dogecoin (DOGE) has seen a significant decline of over 40% in the past 12 days, dropping from above $0.48 to $0.2638. This decline is believed to be a result of the broader crypto market's reaction to the US Federal Reserve's policy signals, particularly the revised dot plot indicating fewer future rate cuts than anticipated. The market saw broad-based selling in risk-on assets, including cryptocurrencies like Bitcoin (BTC) and altcoins, causing $1.17 billion in long positions to be liquidated. Analysts highlight the historical patterns and macro-level drivers behind DOGE's retreat, suggesting that the current pullback could be a normal bull market structure rather than a sign of systemic weakness. Bitcoin's influence over the altcoin landscape is also emphasized, with traders encouraged to consider BTC's price action to gauge the market's direction. The importance of the $0.26 level for DOGE is highlighted, with a successful defense potentially leading to an uptrend and a return to $0.42. Some analysts believe that DOGE is aligning with its typical 3-4 year cycle, indicating that the current pattern could be similar to its previous cycle fractal. DOGE is currently trading at $0.26919.

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