Key Takeaways
- Dogecoin crashes to $0.27 with over 20% decline as it provides the best buying opportunities for many.
- Despite the market crash and DOGE affected, crypto analysts on X believe this is the best buying opportunity before $1.
- Higher timeframes for DOGE remain bullish, while lower timeframes look bearish as bears seek more downtrends.
Months of euphoria and calls for Bitcoin to rally as high as $120k and Dogecoin to $1 were dashed out of the windows as the cryptocurrency market witnessed a severe market crash that has been missing for some time now. The price of Bitcoin crashed from a region of $107,000 to $93,000, and the price of Dogecoin dropped from its high of $0.48 to a region of $0.26.
While this shocked new traders in the cryptocurrency space, many experienced crypto OGs see it as normal, as the market needed to cool off ahead of the holiday before 2024 ends.
The Dogecoin (DOGE) market retracement has sparked much reaction from many crypto experts, including the CEO of DOGE, who stated, ” Day 3 of being very happy that I quit my job.” Other crypto enthusiasts and DOGE lovers believe this could be the last dump before a mega rally heading into 2025.
Let us examine some key reactions and technical analysis for Dogecoin (DOGE), highlighting that $0.3 could be the biggest opportunity for many looking to buy DOGE early for a massive gain.
DOGE Market Reaction Despite Market Crash
Despite suffering a more than 20% price decline to $0.26, DOGE has demonstrated incredible strength. It bounced off its accumulation zone of $0.27, holding its price above $0.3.
Following the market retracement, crypto experts who have paid close attention to DOGE’s previous price action of over 500% since the start of this year have stated with conviction that the price drop was necessary for what is to come in 2025.
Source – Anbessa DOGE Prediction From X
Anbessa, a popular crypto analyst on X took to his X account to recount his previous calls on DOGE rally stating “DOGE textbook throwback Incoming s/r flip of ascending channel breakout. You don’t understand the difference. The moment I shared my entry DOGE had its 5x rally instantly (zero opportunity cost), now correcting perfectly. Perfection. Textbook 5x pump from $0,09 to $0,42 (fib 0,786) Correction to fib 0,618 at 0,26 Pump to ATH Price discovery.”
Source – Investment_CEO Reaction To DOGE Price From X
Anbessa wasn’t the only one; Investment_CEO also stated we could see a mega pump for DOGE as he shared his chart to back up his statement ahead of 2025.
DOGE Technical Analysis For Today, Tomorrow, 2025
Source – DOGE 1D Price Chart From TradingView
Technical analysis for DOGE reveals that the price is looking strong despite facing bearish pressure. DOGE struggles to hold its price above $0.3.
DOGE’s price needs to trade above $0.3 heading into 2025 as this will give the Bulls more boost and opportunity to push their price higher towards its previous all-time high of $0.73.
The price of DOGE is just 41% above its previous all-time high. A break could send the price of DOGE to a high of $1 and more, as crypto analysts believe DOGE’s achievement of this milestone is becoming more realistic every passing day.
Key Support – $0.26
Key Resistance – $0.73
