Another warning came to the popular Memecoin Dge investors. The overall fall of the crypto money market is also ringing danger bells for Dogge. Popular analyst Ali Charts’ descriptions and technical indicators show that the price may decrease to $ 0.06 to decline by 60 percent. What are the three main reasons behind this scenario? Let’s look at the details together.
Critical Warning from Analyst: Dogecoin can see $ 0.06
The first drop signal came from the famous crypto analyst Ali Charts. The analyst said that Doge is based on the lower limit of the rising parallel channel. If this support is broken, a dangerous withdrawal may begin for Memecoin.
According to Ali Charts, in case of this breaking, the price can go down to 23.6 %Fibonacci level in $ 0.06. This means a decrease of approximately 60 %from the current level. However, if Dogge can stay over $ 0.16, it is possible to recover up to $ 0.57 in the short term.
The liquidation map gives alarm
The second signal comes from liquidation data. According to Doge’s liquidation heat map, there is an intensive “hot zone $ around $ 0.153. A large number of long positions have been opened at this level.
If the Doge price goes down to this level, large -scale liquidations can be triggered. This can create more sales prints and the price can quickly take further down. When you go below 0.16 dollars, the first critical support point will be this liquidation zone.
Doge: Elon Musk took silence
The third and most remarkable signal comes from the silence of Elon Musk. Musk, known as “Doge Father in the past, said in his recent statements that Dge would not have a relationship with the US government. This statement was interpreted as he withdrew his support for Dogecoin.
The fact that Musk moved away from Dge was disappointed in the community. According to Coingape’s previous news, Musk’s new government has seriously damaged the popularity of Dogecoin’s popularity. Now investors question how much he can survive without a great name support behind Dogge.
This big decline scenario, which can be experienced in the price of Dogecoin, forces investors to be cautious. Combined technical indicators, analyst views and market dynamics, unfortunately, the target of $ 0.06 does not seem impossible. Although the course of the Memecoin market does not seem very good, we can also talk about a different scenario in the coming days.
