Crypto analyst Behdark has predicted that the Dogecoin worth might undergo a serious crash, sending it beneath the $0.30 assist stage. Nonetheless, the analyst additionally supplied excellent news as DOGE is anticipated to witness a large rebound as soon as it drops to this worth stage.
Dogecoin Value To Crash To $0.26 And Then Rebound
In a TradingView publish, Behdark predicted that the Dogecoin worth might crash to $0.26 after which rebound on the subsequent wave to the upside. The analyst talked about that Dogecoin will probably expertise some fluctuations earlier than the foremost meme coin enters the bearish wave that drives its worth to as little as $0.26.
Offering a extra detailed evaluation of this Dogecoin worth prediction, Behdark remarked that DOGE seems to have entered an ABC correction. He additional revealed that DOGE is at present in wave B, which appears to be forming a diametric sample. The analyst added that Dogecoin is at present at first of wave G, which is the ultimate wave of this sample.
Behdark said {that a} bearish wave C is anticipated to type as soon as wave B is full, which is able to drive the DOGE worth to the $0.26 stage. He defined that vital liquidity is being hunted on this space, which is why DOGE might drop to as little as that. The analyst then remarked that Dogecoin may additionally type the next excessive from this zone.
The analyst’s accompanying chart confirmed that the Dogecoin worth might witness a large bounce from the $0.26 stage and rise to as excessive as $0.5. This transfer might finally pave the best way for Dogecoin to succeed in a brand new all-time excessive (ATH).
DOGE Is Repeating A Historic Sample
In an X publish, crypto analyst Grasp Kenobi revealed that the Dogecoin worth is repeating a historic sample. The analyst famous that, like December 2023, December 2024 additionally noticed a neighborhood peak following a pump that started on the finish of October. He added that each worth pumps in 2023 and 2024 originated from a boring, sideways zone that started in late August.
For the reason that preliminary zones and period are similar in each conditions, Grasp Kenobi predicted that what follows subsequent will likely be just like the 2023 worth motion. Primarily based on this, he remarked that an vital pump is imminent for the Dogecoin worth. A repeat of the 2023 worth motion might result in a 3x improve.
Nonetheless, the analyst urged that DOGE might get pleasure from greater than a 3x worth improve this time as a result of the primary section of this present worth motion is stronger than the one in 2023. A 3x improve would nonetheless be sufficient to ship the Dogecoin worth above the psychological $1 stage. Grasp Kenobi predicts that this pump ought to occur within the early days of February and shut past March 1.
On the time of writing, the DOGE worth is buying and selling at round $0.315, down over 10% within the final 24 hours, in line with information from CoinMarketCap.
Featured picture from Adobe Inventory, chart from Tradingview.com
