Analysis: "DOGE's Dead Cross Could Lead to a 30% Drop"

Marzell, a renowned cryptocurrency analyst, analyzed through X, “Currently, a death cross pattern and a head and shoulders pattern are being observed simultaneously on the 3-day Dogecoin (DOGE) chart, where the 200-day moving average (MA) falls below the 50-day MA. If this pattern is completed, DOGE could fall to as low as $0.08. The overall downward trend is accelerating as interest in the DOGE spot ETF, which was launched in November of last year, cools and the open interest in the futures market decreases. Currently, DOGE risk aversion is spreading among investors, leading to a continuous selling trend.” According to CoinMarketCap, DOGE is currently trading at $0.1203, down 1.99%.