3 hours ago
2 
Recently, some experts have warned that if the popular meme coin fails to hold key support levels, it could experience a sharp decline — potentially dropping as low as $0.06. Here’s why the upcoming weeks could be crucial for Dogecoin holders.
The Critical $0.17 Support Level
According to recent technical analysis shared by prominent cryptocurrency analyst @ali_charts, $0.17 represents a vital support level for Dogecoin. The price of DOGE has been fluctuating around this threshold, and if it fails to maintain this price point, it could trigger a much deeper fall. In essence, the $0.17 support level is seen as a make-or-break point for the cryptocurrency.
If Dogecoin breaks below $0.17 without reclaiming it as support, it would likely face more downward pressure, with analysts predicting a possible plunge toward the $0.06 mark. This prediction is grounded in technical analysis that highlights the potential for the price to fall through established support levels, especially when there’s no clear catalyst for upward movement.
Why $0.06 Is a Possible Target
The projected drop to $0.06 is based on technical indicators and historical price patterns. If Dogecoin loses its footing at $0.17, the next strong support level appears to be significantly lower — around $0.06. The reason this level is important is that it’s seen as a key point of previous price consolidations. A fall to this level would represent a severe loss for investors who have been holding the token, especially considering its highs in 2021.
The post Dogecoin Could Fall to $0.06 If It Fails to Hold This Support Level appeared first on Coindoo.
Bengali (Bangladesh) · 
English (United States) ·