Crypto analyst Behdark has predicted that the Dogecoin worth may endure a significant crash, sending it beneath the $0.30 help stage. However, the analyst additionally offered excellent news as DOGE is anticipated to witness an enormous rebound as soon as it drops to this worth stage.
Dogecoin Price To Crash To $0.26 And Then Rebound
In a TradingView post, Behdark predicted that the Dogecoin worth may 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.
Providing 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 the moment in wave B, which appears to be forming a diametric sample. The analyst added that Dogecoin is at the moment in the beginning of wave G, which is the ultimate wave of this sample.
Behdark acknowledged {that a} bearish wave C is anticipated to type as soon as wave B is full, which can drive the DOGE worth to the $0.26 stage. He defined that important liquidity is being hunted on this space, which is why DOGE may drop to as little as that. The analyst then remarked that Dogecoin may also type the next excessive from this zone.
The analyst’s accompanying chart confirmed that the Dogecoin worth may witness an enormous bounce from the $0.26 stage and rise to as excessive as $0.5. This transfer may finally pave the way in which for Dogecoin to succeed in a brand new all-time high (ATH).
DOGE Is Repeating A Historical Pattern
In an X put up, crypto analyst Master 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.
Since the preliminary zones and length are an identical in each conditions, Master Kenobi predicted that what follows subsequent can be much like the 2023 worth motion. Based on this, he remarked that an necessary pump is imminent for the Dogecoin worth. A repeat of the 2023 price action may result in a 3x enhance.
However, the analyst urged that DOGE may take pleasure in greater than a 3x worth enhance this time as a result of the primary part of this present worth motion is stronger than the one in 2023. A 3x enhance would nonetheless be sufficient to ship the Dogecoin worth above the psychological $1 level. Master Kenobi predicts that this pump ought to occur within the early days of February and shut past March 1.
At the time of writing, the DOGE worth is buying and selling at round $0.315, down over 10% within the final 24 hours, based on data from CoinMarketCap.
Featured picture from Adobe Stock, chart from Tradingview.com
