Dogecoin Crash? Analyst Predicts Drop To $0.12 Before Rebound 📉
A recent analysis by Paul (@Zig_ZagTrades) suggests Dogecoin (DOGE) might dip to $0.12 during its corrective phase before a rebound. Paul's 1-day chart presents an Elliott Wave model with a final corrective wave nearing the $0.12–$0.15 range.
The chart marks a five-subwave decline from a previous peak, suggesting this could be the final subwave in a larger C wave correction. Key Fibonacci levels span from $0.16 to $0.11, with crucial retracements around 61.8% and 78.6%.
The chart indicates sustained bearish momentum with lower highs/lows and consistent selling pressure, supported by Ichimoku Cloud resistance since January.
If DOGE finds support in the demarcated "Golden Zone," an upward cycle could follow; otherwise, further corrections may occur.
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