Dogecoin plummets 50%! $0.24 becomes the critical line of life and death, traders hold their breath!
Dogecoin (DOGE) has dramatically fallen about 50% since its last peak, now priced at only $0.2102, facing a significant setback in its long-term upward trend. The weekly chart clearly shows that the $0.2400 area is facing a severe test, a historically critical price point that has played a dual role of support and resistance multiple times in the past.
At this moment, $0.2400 is not just a number but a turning point in Dogecoin's fate! Will it be a defense to hold the ground and a desperate counterattack, or will it plunge into the abyss? The market is watching closely!
The price trajectory of Dogecoin resembles a cycle, with each strong breakout followed by a deep correction, and $0.2400 is the key test point in this cycle. Looking back at the bull market of 2021, Dogecoin also fell 50%, but ultimately reversed and regained its upward momentum.
Now, Dogecoin stands once again at this crossroads, with weekly candlestick charts revealing market uncertainty. If it cannot reclaim $0.2400, a trend reversal may become a foregone conclusion, with the risk of further declines to $0.1800 or even lower increasing sharply. Conversely, if buyers intervene strongly, Dogecoin could return to the $0.3000 heights, especially as the market warms up.
In summary, Dogecoin's future hangs by a thread. Will $0.2400 be its lifeline? Can the bulls turn the tide? Everything will soon be revealed!
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