After the attack on Iran by Israel, the price of Dogecoin plummeted and is currently testing the lower boundary of a 'symmetric triangle,' approaching an important support level. Once the critical support of $0.168 is breached, a 30% drop (to $0.12) is almost inevitable, with a 'bottomless pit' below that could plummet to $0.093 or even $0.01! DOGE is repeating the death spiral of LUNA and FTT, and $0.168 is the last lifeline!
Dogecoin has dropped 23% this month and 4.5% this week, with the current trading price close to $0.175, and Dogecoin is being ruthlessly abandoned by investors. The continuous reduction of whale accounts and the panic selling by retail investors create a vicious cycle, with a liquidity crisis looming.
Bitcoin's sharp decline and geopolitical conflicts have led to a bloodbath in risk assets, with DOGE at the forefront! More critically, in the current bear market environment, the market has lost patience with meme coins that lack practical application scenarios, and DOGE is falling from 'market darling' to 'abandoned asset.'
The most terrifying fact: In the 2024 bull market, DOGE could still rise to $0.4, but by 2025, DOGE may not even stabilize at $0.2. The era of meme coins is over!
Is this the last bull market for Dogecoin?
Dogecoin must first break through the upper boundary of the symmetric triangle. This boundary has been limiting price increases since February. Breaking this resistance level is crucial to initiate a significant bull market. During the upward movement, Dogecoin faces two key resistance levels at $0.205 and $0.237. Breaking through these two resistance levels is essential for Dogecoin to confidently stand at higher levels.
In summary, Dogecoin is at a crossroads, closely related to the price trend at the support level of $0.168. Falling below this support level could lead to a significant decline, while holding this support level may signal a potential rebound. Will you be a coward and miss out on financial freedom, or will you bet on this once-in-a-century gamble? Remember—when the bell tolls for DOGE, no one will be exempt!
That's all for today's article. In the upcoming bull market, I will guide everyone to aim for the wealth opportunities in altcoins.
