Follow WeChat official account: Lazy King Squirrel
Add V: jmay1160 Add QQ:3788353562
Doge's price plummeted like other parts of the cryptocurrency market, breaking a crucial support level. Breaking below $0.18 signals a market shift and could trigger the next wave of decline. Previously, a cryptocurrency analyst had predicted this market downturn, even warning before the market began to fall. However, this is not entirely bad news for Doge, as longer time cycles will provide more bullish options over time.
Doge Price Remains Bullish Long-Term
Cryptocurrency analyst Master Ananda predicted Doge's next price movement in a TradingView post. At the time of posting, Doge was trading around $0.2, with the market still in an uptrend. Although the market seemed to be regaining positive sentiment, the analyst also pointed out the possibility of a pullback.
Master Ananda explained that Doge's price remains quite bearish, but only in the short term. This means only a long-term bullish trend will emerge. So far, this meme coin's market movement seems to be developing in the direction predicted by the cryptocurrency analyst.
He predicted a pullback based on the April 2025 low point, forming a lower high. This pullback began as early as December 2024, when Doge's price started creating lower highs, indicating bearish market sentiment was accumulating.
Currently, Doge's price has broken below the $0.18 support level, and the analyst simply noted this as a continuation of the downtrend that began after the market recovery on May 11th. While this is bearish in the short term and suggests potential further pullback, the analyst expects this situation won't last long.
DOGE Future Price Movement
Regarding the bottom of the current Doge price pullback, Master Ananda expects its price to bottom out above the April 7th low point (which was below $0.13). This would bring Doge to around $0.15 before bottoming out, after which it is hoped to start rebounding.
The cryptocurrency analyst urged investors, especially spot holders, to wait for the market to settle. He expects that afterward, Altcoins will turn bullish again. For short traders, he advises caution and not holding positions for too long due to small volatility.
Master Ananda predicted: "Compared to April 7th, we will likely create a higher low." "But if there are too many leveraged positions and the market wants to remove them, a long candle might pierce the support level, thus driving a rebound the next day."
