Get Ready for a ROFL-worthy 44% Dogecoin Crash?!

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Hold onto your hats, folks! Dogecoin‘s price is taking a tumble, down 3% in just 24 hours. What’s the cause of this crypto chaos? Some meme coin shenanigans involving Argentina’s president and a rug pull incident with LIBRA. 🤯

Brace Yourselves: DOGE Analyst Predicts 44% Nosedive! 📉

Famed crypto analyst Ali Martinez has some grim news for DOGE fans. Seems this lovable meme coin might be in for some rough waters due to a bearish technical chart pattern. A “death cross” between Dogecoin’s Market Value to Realized Value (MVRV) ratio and its 200-day moving average (MA) has been spotted. 😱

Now, we’re no rocket scientists, but history shows that such patterns can lead to significant drops. In fact, Dogecoin’s price plummeted 26% and 44% during the last two instances of this pattern. Yikes! If this bearish trend continues, DOGE might crash all the way to $0.15 from its current levels. 💸

Meme Coins: A Wild Weekend Ride! 🎢

Over the weekend, Dogecoin took a 7% hit as the entire meme coin sector faced a massive blow. Celebrity meme coins got clobbered, and even top players like Dogecoin and Shiba Inu (SHIB) weren’t spared. DOGE futures open interest took a 5.27% dive to $2.41 billion, while 24-hour liquidations skyrocketed to $3.57 million, with $3.1 million in long liquidations. Oof! 📉

DOGE Traders: Still Bullish? You Bet! 🐃

Despite the gloomy technical charts, DOGE traders remain optimistic about future gains. And why not? With the SEC’s potential approval of a spot Dogecoin ETF on the horizon, there’s still hope for this meme coin’s faithful fans. 💫

Analyst Bluntz is feeling pretty good about DOGE, too, praising its stability after two weeks of consolidation. “If there’s one saying that’s always stuck with me,” Bluntz says, “it’s never short a dull market.” So, there you have it! Dogecoin’s quiet phase might be a sign of strength, and traders are eagerly watching for future price movements. 🧐

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2025-02-17 09:20