CryptoKaleo: Dogecoin risks falling to $ 0.07

Experienced crypto analyst CryptoKaleo predicts that Dogecoin DOGE $0.13 Binance-Peg Dogecoin -2.02% Market capitalization $0.24 billion VOL. 24 hours $0.12 billion could fall below 7 cents before potentially rising to $ 1. Despite bearish trends, large holders of the main meme coin are showing confidence, which could signal a possible trend reversal above the $ 0.105 support.

Recently, Dogecoin has experienced significant volatility, reflecting the broader volatility of crypto markets. CryptoKaleo noted on the X platform that the price of DOGE could drop as low as 7 cents before stabilizing and rising to $ 1.

At the time of publication, the price of Dogecoin is $ 0.09, which is almost 12% higher than a day ago.

The current DOGE indicators indicate a bearish mood. The price is below the middle line of the Bollinger Bands, which indicates a bearish momentum. Activity in the Dogecoin network has also dropped to 47.3 thousand addresses, which is significantly lower than the peak of more than 345 thousand. The number of transactions also decreased, reaching 204 thousand.

Despite the bearish indicators, large Dogecoin holders are not selling their assets, which indicates their confidence in a potential trend reversal. If Dogecoin closes above the critical support level of $ 0.105 on the daily charts, it could mean the start of growth and an attempt to reach the resistance level of $ 0.13.