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Technical Analysis

Dogecoin Predicted to Dip Before Surging Past $1, Analysts Say

Dogecoin Predicted to Dip Before Surging Past $1, Analysts Say

Dogecoin could be heading toward a notable price drop before staging a strong comeback, according to crypto analyst Behdark.

The analyst foresees DOGE slipping below the $0.30 support level, potentially hitting $0.26, before rebounding with significant momentum.

Price Dip to $0.26 Could Spark Recovery

Behdark believes Dogecoin is currently in the midst of a corrective phase, with price movements forming a complex wave structure. He predicts that after some fluctuations, the token will enter a bearish phase, pushing its value down to $0.26, a level where liquidity is concentrated.


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This dip, however, is expected to set the stage for a major rally, with DOGE potentially climbing as high as $0.50. Such a move could position the token for further upward momentum, possibly reaching new all-time highs in the future.

Historical Trends Hint at a Bullish Breakout

In a separate analysis, crypto expert Master Kenobi points out that Dogecoin’s current price activity closely mirrors a pattern observed in 2023. Both years saw price rallies beginning in late October, peaking in December, and originating from a period of sideways movement in August. Based on these similarities, Kenobi predicts a substantial price surge, potentially tripling DOGE’s value. This would push the token beyond the $1 milestone, with the rally expected to gain momentum in February and extend into March.

Kenobi also notes that this year’s setup appears stronger than the previous cycle, suggesting the possibility of even greater gains. The combination of technical analysis and historical patterns offers a promising outlook for Dogecoin’s price trajectory.

Outlook for the Coming Months

While Dogecoin may experience a short-term dip, analysts see this as a precursor to a robust recovery. With historical patterns and technical indicators aligning, February and March could mark a pivotal period for the token, potentially propelling it to new highs and reinforcing its position as one of the most closely watched cryptocurrencies.

Author
Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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