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Due to the surge in selling pressure in the cryptocurrency market, Doge's price experienced significant declines during multiple time periods. As the bull market failed to push its price to a critical level, Doge has been one of the worst-performing cryptocurrencies in recent months.
As of the time of writing, Doge is trading at $0.17, down 13% over the past seven days. In a shorter time frame, Doge has fallen 3%, second only to Solana.
Doge Price in Peril, Where Will DOGE Go?
Top analyst Eliz suggests that if Doge cannot maintain its current price, it risks falling into a dangerous zone. This "warning zone" is around $0.14, and if bulls fail to hold this area, Doge could face further risks of dropping to $0.12 to $0.08, returning to its lowest levels since 2024.
As shown above, analysts still believe that if the cryptocurrency touches the "warning zone", it may rebound. If this occurs, the cryptocurrency could recover its current level and slightly rise to the $0.2 area.
The bullish momentum might drive Doge to rise to its previous high points during low periods, entering the $0.20 to $0.24 range. However, traders should remain cautious and closely monitor future price trends before taking any positions.
Altcoin Season Might Rescue Doge Price
Chris Burniske, former chief crypto analyst at Ark Invest, believes that despite Bitcoin's sell-off, the Altcoin domain still shows certain strength. Although Bitcoin's momentum seems to be cooling, Burniske notes that ETH and Solana's trends remain relatively robust.
Even if Doge's price touches the "warning line", this factor could potentially favor its rebound. The analyst made the following comments about the current Altcoin cycle, hinting that Doge and other cryptocurrencies might rise:
ETH is performing better than expected, and SOL effortlessly completed the FTX unlock, which was once a hot FUD topic. The dynamics of this bull market are different from previous ones, largely due to Altcoin weakness, meme coin frenzy, and TradFi's ultimate "realization", but the bull market remains vibrant.
