,Dogecoin suffered a significant crash in the bloodbath that rocked the crypto market earlier this week, notching double-digit losses in the process. This has sent its support lower, and $0.112-$0.123 is now the level to hold for the meme coin. But what if it falls below this support?

本週早些時候，狗狗幣在震撼加密貨幣市場的大屠殺中遭遇了嚴重崩潰，並在此過程中遭受了兩位數的損失。這降低了支撐位，目前 Meme 幣的支撐位為 0.112-0.123 美元。但如果跌破這個支撐位怎麼辦？

Dogecoin Must Hold Support At $0.112-$0.123

狗狗幣必須維持在 0.112-0.123 美元的支撐位

Crypto analyst YG Crypto, in an analysis, identified $0.112-$0.123 as the major support levels for Dogecoin after the price crash. In the post that was made on X (formerly Twitter), the crypto analyst explained that these levels are important due to the fact that they have prevented massive price crashes for Dogecoin in the past.

加密貨幣分析師 YG Crypto 在一項分析中認為，價格暴跌後，狗狗幣的主要支撐位為 0.112-0.123 美元。在 X（以前稱為 Twitter）上發布的帖子中，加密貨幣分析師解釋說，這些水平很重要，因為它們過去阻止了狗狗幣的大規模價格暴跌。

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As such, the meme coin needs to maintain above this level to continue its bullish trend. As of the early hours of Thursday, the DOGE price continues to trade above the higher band of this level, suggesting that the support at $0.123 is significant.

因此，模因幣需要維持在這一水平之上才能繼續其看漲趨勢。截至週四凌晨，DOGE 價格繼續交投於該水平的較高區間上方，表明 0.123 美元的支撐非常重要。

However, YG Crypto warned that if it ends up unable to hold, it could be disastrous for the price. “If the price breaks below this support, it could signal further downward pressure,” the crypto analyst warned. Further, a breakdown below the lower band of this support would constitute another 15% crash, leading to a cumulative 50% decline in the DOGE price from its 2024 peak.

然而，YG Crypto 警告稱，如果最終無法持有，對價格來說可能是災難性的。這位加密貨幣分析師警告稱：“如果價格跌破這一支撐位，則可能預示著進一步的下行壓力。”此外，跌破該支撐位的下限將構成另一次 15% 的崩盤，導致 DOGE 價格較 2024 年高峰累積下跌 50%。

$DOGE After the Dive: Will Support HOLD OR FOLD? 🫢

$DOGE 跳水後：會支持持有還是棄牌？ 🫢

Dogecoin soared to $0.228 before a recent correction that saw prices plummet over 40%. Despite the drop🔻, #DOGE is still trading above the crucial support level of $0.112-$0.123.

This area previously prevented a steeper… pic.twitter.com/JisClhaNlO

狗狗幣飆升至 0.228 美元，隨後出現最近的調整，價格暴跌超過 40%。儘管下跌🔻，#DOGE 的交易價格仍高於 0.112-0.123 美元的關鍵支撐位。

— YG crypto (@ygcrypto) May 1, 2024

- YG crypto (@ygcrypto) 2024 年 5 月 1 日

If Dogecoin is able to maintain this support, then buying here could be a unique opportunity. However, the analyst also expressed that technical indicators are not the only useful tools, as market sentiment can also play a big role in where the price could be headed next.

如果狗狗幣能夠維持這種支撐，那麼在這裡購買可能是一個獨特的機會。不過，分析師也表示，技術指標並不是唯一有用的工具，因為市場情緒也能在下一步價格走勢中扮演重要角色。

DOGE Price Could Break Out Higher

DOGE 價格可能突破更高

While the fundamentals seem to be turning bearish for Dogecoin right now, not all analysts are expecting a price decline. One of these bullish crypto analysts is Ali Martinez, who has identified a formation in the DOGE price chart that hasn’t been seen since 2021.

雖然狗狗幣的基本面目前似乎轉為看跌，但並非所有分析師都預期價格會下跌。 Ali Martinez 是這些看漲加密貨幣分析師之一，他在 DOGE 價格圖表中發現了自 2021 年以來從未出現過的形態。

Martinez explained in his analysis that the Dogecoin price had finally broken out of a descending triangle, something that has been historically bullish for the price. At the same time, the crypto analyst calmed investors’ fears, saying that the current 40% drawdown in the meme coin’s price is par for the course going by historical performance.

馬丁內斯在他的分析中解釋說，狗狗幣的價格終於突破了下降三角形，這在歷史上一直是看漲價格的。與此同時，這位加密貨幣分析師安撫了投資者的擔憂，稱目前 Meme 幣價格下跌 40%，符合歷史表現。

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According to the analyst, the DOGE price had seen a similar 40% decline in 2017 before breaking out of a descending triangle. The result of this breakout was a 982% bull run that sent the price to new all-time highs. A similar trend was registered in 2021 as well, when the DOGE price fell 56% before breaking out of a descending triangle. This time around, Dogecoin went on its legendary 12,197% rally to reach a new all-time high as well.

該分析師表示，在突破下降三角形之前，DOGE 價格在 2017 年也經歷了類似的 40% 下跌。這次突破的結果是 982% 的多頭市場，將價格推至歷史新高。 2021 年也出現了類似的趨勢，當時 DOGE 價格下跌 56%，然後突破下降三角形。這一次，狗狗幣繼續傳奇般的 12,197% 漲幅，創下歷史新高。

Since the meme coin seems to be closely following this trend, the belief that it will do the same thing has become stronger. In the case of 2024, the price has seen a 40% drawdown and has now broken out of a descending triangle. If history rhymes once more, the analyst believes that DOGE can rally 4,600% to $6.

由於模因幣似乎正在密切關注這一趨勢，因此人們對它也會做同樣事情的信念變得更加強烈。就 2024 年而言，價格已下跌 40%，現已突破下降三角形。如果歷史再次押韻，分析師認為 DOGE 可能會上漲 4,600% 至 6 美元。

Now, in 2024, #DOGE has yet again broken out of a descending triangle!

現在，2024 年，#DOGE 再次突破下降三角形！

It is currently undergoing a 47% price correction, very similar to previous cycles, which could ignite the next $DOGE bull run! pic.twitter.com/ZmuHmvIwei

它目前正在經歷 47% 的價格調整，與之前的周期非常相似，這可能會引發下一輪 $DOGE 牛市！ pic.twitter.com/ZmuHmvIwei

— Ali (@ali_charts) May 1, 2024

— 阿里 (@ali_charts) 2024 年 5 月 1 日

“Over the years, #Dogecoin appears to mirror its previous bull cycles! All you need is a little bit of patience,” Ali Martinez concluded.

「多年來，#Dogecoin 似乎反映了先前的牛市週期！你所需要的只是一點耐心，」阿里馬丁內斯總結道。

DOGE price rises above $0.13 | Source: DOGEUSDT on Tradingview.com