Dogecoin Price Reaches Critical Decision Level To Trigger Another 100% Wave
The price of Dogecoin remained at a long downtrend from last yearindicating a broader downturn in the crypto market. Although the meme coin he began to recover slowly in the past weeks, its momentum was not strong enough to support this meeting. With Dogecoin now trading close to $0.10, the crypto analyst suggests that the meme coin has reached a critical decision point that could trigger a bullish wave of more than 100%.
Dogecoin Price Enters Key Decision Level
Market analyst Erick Crypto released a new Dogecoin price at X, we note that the meme coin has reached a major decision point. He noted that after enduring months of strong downside, DOGE is now pressing just below a key resistance level.
According to Erick Crypto, the descending trendline and horizontal support on the price chart now act as critical decision point is estimated at 0.10 $. Based on the analysis, this area represents a battlefield where consumers and vendors compete for control after an extended downtrend.
Erick Crypto predicted that if Dogecoin can hold the level of $0.10 and finally break the descending line, then its momentum can change quickly. He explained that such an outbreak would signal the end of Dogecoin’s long-term suppressionwhich sparked a strong price rally to $0.25. Since DOGE is currently trading below $0.1, this would represent an increase of around 150%.
Supporting his bullish opinion, Erick Crypto noted that the liquidity is below the current price level of DOGE on the chart, which creates conditions for a large increase. He described the meme coin’s current setup as one of compression followed by a possible expansion, suggesting that DOGE’s extended decline does not indicate weakness but a temporary stop before a renewed wave.
Analyst Says DOGE Still Has Power
In a different analysis, crypto market expert Trader Tardigrade discussed the same descending line that forms on the Dogecoin chart following an extended decline. However, he gives a cautious view of the meme coin price.
According to him, Dogecoin is currently holding firmly to the decline of the trendline at about $0.10, but its. the pressure is always weak. He noted that the meme coin recently started trading above the trendline after a recent “backtest”. Because of that,, Trader Tardigrade believes that Dogecoin’s extensive market structure remains activealthough it is currently powerless.
He explained that before DOGE can confirm the explosion, its price must create more buying pressure. If this explosion happens, the analyst expects the meme coin to rise significantly to $0.15, which represents about 50% from the current levels around $0.10. He added that traders and investors should pay close attention to increasing volume and strong candles. Until then, he insists the market should remain cautiously optimistic.
Featured image from Getty Images, chart from Tradingview.com
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