February 17, 2025 at 16:00 Dogecoin latest price

(24-hour Dogecoin price trend)

Dogecoin Price Forecast: Will the Death Cross Pattern Send DOGE Plunging 44%?

February 17, 2025, 4:00 PM

As of now, Dogecoin (DOGE) is trading at $0.26195017802846, with a 24-hour trading volume of $1098019002.9128. DOGE has shed -2.83959038% in the past day.

Understanding the Death Cross Pattern

Technical analysts often rely on chart patterns to predict future price movements. One concerning pattern that has emerged on the DOGE chart is the death cross. This occurs when the 50-day moving average (MA) falls below the 200-day MA.

The death cross is widely interpreted as a bearish signal, indicating a potential downtrend. It suggests that the bears are in control and that further price declines are likely.

Is a 44% Drop Possible?

According to independent analyst CryptoWolf, the death cross pattern on the DOGE chart suggests that the price could plunge by 44% to $0.147. This prediction is based on the historical performance of DOGE following previous death cross signals.

However, it's important to note that technical analysis can only provide probabilities, not certainties. While the death cross pattern is a bearish signal, it does not guarantee a 44% drop.

Other Considerations

In addition to the death cross pattern, there are other factors that could influence the future price of DOGE. These include:

• Regulatory uncertainty: Ongoing discussions about regulation in the cryptocurrency space could create headwinds for DOGE and other altcoins.
• Competition: DOGE faces increasing competition from other meme coins, such as Shiba Inu (SHIB) and Floki Inu (FLOKI).

Conclusion

While the death cross pattern suggests that DOGE could face further price declines, it is not a guarantee of a 44% drop. Investors should carefully consider all factors before making any investment decisions.

Related News

• [Litecoin Price Analysis: DOGE and XRP ETF Hype Sparks 16% LTC Whale Demand Surge](https://www.investingcube.com/litecoin-price-analysis-doge-and-xrp-etf-hype-sparks-16-ltc-whale-demand-surge/)