The crypto sphere is on the edge of their seats as Behdark, a renowned cryptocurrency analyst, warns of a drastic plunge awaited in the Dogecoin market. According to the expert, the Dogecoin price could plummet below the $0.30 support level before staging a massive comeback.
Behdark Foresees the Dogecoin Crash and Subsequent Rebound
Through a TradingView post, Behdark cautions that the value of Dogecoin might drastically sink to $0.26 before witnessing an upward swing. The predicted bearish trend would impact Dogecoin significantly, following which the popular meme coin is likely to experience some price fluctuations.
In a detailedancealyst stated that Dogecoin is right on the threshold of wave G, which is the ultimate wave of a diametric pattern. Once this wave B culminates, a bearish wave C is anticipated to spiral, plummeting the DOGE price to the $0.26 mark. He deduced that this area is being targeted for significant liquidity, which could make DOGE crash to the predicted low. However, he also predicted that this low might be a turning point for Dogecoin, triggering a higher high in the market.
According to Behdark’s chart, this bearish trend will set the stage for a skyrocketing bounce back – from $0.26 to a whopping $0.5. This massive rebound could potentially clear the path for Dogecoin to establish a new All-Time High (ATH) record.
DOGE’s Historical Pattern Repetition
Joining the conversation, crypto analyst Master Kenobi highlighted a significant prediction in an X post. He revealed that Dogecoin’s current price trend is mirroring a historical pattern. Drawing parallels, he stated that reminiscent of the December 2023 scenario, the end of October 2024 also witnessed a peak following a major price pump, originating from a stagnant phase in late August.
Drawing from this repetitive pattern, Master Kenobi projected that Dogecoin’s future could indeed reproduce the 2023 price actions, potentially triggering a 3x surge in price. Despite this, the expert speculates a possible greater hike in price due to the stronger first phase of the current price action compared to 2023. Propelled by this, the Dogecoin price could breach the significant $1 mark. The analyst anticipates this surge to initiate early in February and continue beyond March 1st.
As per the latest metrics, Dogecoin is currently valued at approximately $0.315 and has experienced a decline of over 10% in the past 24 hours, as cited by the CoinMarketCap data.
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FAQs:
What is the projected Dogecoin price change as per Behdark’s analysis?
Dogecoin is predicted to crash to $0.26 before making a substantial rebound to as high as $0.5.
What is the historical pattern repetition in DOGE’s price as per Master Kenobi?
Master Kenobi suggests that DOGE’s current price trend mirrors a 2023 pattern, which could potentially trigger a 3x surge in price.
What is the potential impact of this price change?
The projected price change could set the stage for Dogecoin to establish a new All-Time High (ATH) record.
How can you effectively track the OKB?
Leading cryptocurrency apps like Finances Zippy offer detailed price predictions and market trends, aiding in effective tracking of OKB.
