Dogecoin has fallen sharply along with the rest of the crypto market, and this has led to a break below a very important support level. The drop below $0.18 has signaled a change in the tide, and this could trigger the next wave of decline.
A cryptocurrency analyst who previously predicted the decline of this market called it before it began. However, not all is bad news for the meme coin as the longer time frame provides many more bullish options over time.
Dogecoin Price Still Increases In The Long Term
Crypto analyst Master Ananda predicted in a TradingView post where the price of Dogecoin might head next. At the time of the post, the price of Dogecoin was still trading near the support level of $0.2 and the market was still on an upward trend. While positive sentiment seemed to be returning to the market at that time, the analyst pointed out the possibility of a pullback.
Master Ananda explained that the price of Dogecoin remains quite pessimistic, but this is only in the short term. This overlooks the long-term timeframe for optimism, and so far, the market trend of this meme coin seems to be unfolding in the way that cryptocurrency analysts predict.
He called for adjustments, using the low of April 2025 as a basis and the lower highs formed thereafter. This began in December 2024 when the price of Dogecoin started to reach lower highs, indicating increasing pessimism in the crypto market.
Currently, as the price of Dogecoin has fallen back below the support level of $0.18, the analyst simply points out that this is a continuation of the decline that began on May 11 after the crypto market recovered. Although this is a short-term downtrend, suggesting that there may be a little more adjustment, the analyst does not expect this to last.
Where Can DOGE Price Go From Here
For the bottom of the current Dogecoin price correction, Master Ananda expects the price to hit the bottom above the low of April 7, which is above $0.13. This will bring the meme coin to around $0.15 before hitting the bottom, and then it is expected to start recovering.
The crypto analyst urges investors, especially those holding spot bags, to wait until things settle down. After that, he hopes this altcoin will rise in price again. For short sellers, he advises caution and not to hold positions for too long as the trading range is short.
"We are very likely to have a higher low compared to April 7," Master Ananda predicted. "However, if there are too many leveraged positions open and the market wants to eliminate those positions, there could be a long wick piercing through the support for the recovery action the next day."
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This Analyst Predicts the Collapse of Dogecoin Prices – Here is the Remainder of the Forecast
Dogecoin has fallen sharply along with the rest of the crypto market, and this has led to a break below a very important support level. The drop below $0.18 has signaled a change in the tide, and this could trigger the next wave of decline. A cryptocurrency analyst who previously predicted the decline of this market called it before it began. However, not all is bad news for the meme coin as the longer time frame provides many more bullish options over time. Dogecoin Price Still Increases In The Long Term Crypto analyst Master Ananda predicted in a TradingView post where the price of Dogecoin might head next. At the time of the post, the price of Dogecoin was still trading near the support level of $0.2 and the market was still on an upward trend. While positive sentiment seemed to be returning to the market at that time, the analyst pointed out the possibility of a pullback. Master Ananda explained that the price of Dogecoin remains quite pessimistic, but this is only in the short term. This overlooks the long-term timeframe for optimism, and so far, the market trend of this meme coin seems to be unfolding in the way that cryptocurrency analysts predict.
He called for adjustments, using the low of April 2025 as a basis and the lower highs formed thereafter. This began in December 2024 when the price of Dogecoin started to reach lower highs, indicating increasing pessimism in the crypto market. Currently, as the price of Dogecoin has fallen back below the support level of $0.18, the analyst simply points out that this is a continuation of the decline that began on May 11 after the crypto market recovered. Although this is a short-term downtrend, suggesting that there may be a little more adjustment, the analyst does not expect this to last.
Where Can DOGE Price Go From Here For the bottom of the current Dogecoin price correction, Master Ananda expects the price to hit the bottom above the low of April 7, which is above $0.13. This will bring the meme coin to around $0.15 before hitting the bottom, and then it is expected to start recovering. The crypto analyst urges investors, especially those holding spot bags, to wait until things settle down. After that, he hopes this altcoin will rise in price again. For short sellers, he advises caution and not to hold positions for too long as the trading range is short. "We are very likely to have a higher low compared to April 7," Master Ananda predicted. "However, if there are too many leveraged positions open and the market wants to eliminate those positions, there could be a long wick piercing through the support for the recovery action the next day."