Memecoin Trader Warns of Further Dogecoin (DOGE) Price Dip: What to Watch

Dogecoin (DOGE) Price Facing Bearish Correction

According to market analyst CryptoJobs3, Dogecoin (DOGE) is facing potential price dips due to a bearish trend.

Bearish Breakout on H4 Chart

A bearish breakout has been confirmed on the 4-hour (H4) chart. DOGE recently failed to reclaim an upward trendline near $0.40, solidifying the downward trend.

At the time of publication, DOGE is trading at $0.3964, down 2.60%, with further declines expected.

Key Levels to Watch

• Resistance: $0.40, $0.48206
• Support: $0.34779–$0.3400

A breach of the support range could lead to a drop toward $0.30 or $0.2800.

Weekly Chart Signals Deeper Corrections

The weekly chart also suggests a bearish outlook. DOGE failed to hold gains after a sharp rise to $0.51402. Ichimoku Cloud analysis indicates downward momentum, with DOGE falling below key levels and heading toward the flat Kijun-sen (baseline) around $0.30–$0.28.

Support and Resistance Zones

• Weekly Support: $0.34779, $0.30–$0.28
• Weekly Resistance: $0.40, $0.51402

Tweet Analysis

CryptoJobs3's tweet confirmed the bearish correction, advising traders to exercise caution.

Navigating the Market

Traders should monitor the identified support and resistance zones. Waiting for bullish reversal signals before initiating long positions is recommended.