Crypto analyst Behdark has predicted that the Dogecoin price could suffer a major crash, sending it below the $0.30 support level. However, the analyst also provided good news as DOGE is expected to witness a massive rebound once it drops to this price level.
Dogecoin Price To Crash To $0.26 And Then Rebound
In a TradingView post, Behdark predicted that the Dogecoin price could crash to $0.26 and then rebound on the next wave to the upside. The analyst mentioned that Dogecoin will likely experience some fluctuations before the foremost meme coin enters the bearish wave that drives its price to as low as $0.26.
Providing a more detailed analysis of this Dogecoin price prediction, Behdark remarked that DOGE appears to have entered an ABC correction. He further revealed that DOGE is currently in wave B, which seems to be forming a diametric pattern. The analyst added that Dogecoin is currently at the beginning of wave G, which is the final wave of this pattern.
Behdark stated that a bearish wave C is expected to form once wave B is complete, which will drive the DOGE price to the $0.26 level. He explained that significant liquidity is being hunted in this area, which is why DOGE could drop to as low as that. The analyst then remarked that Dogecoin might also form a higher high from this zone.
The analyst’s accompanying chart showed that the Dogecoin price could witness a massive bounce from the $0.26 level and rise to as high as $0.5. This move could eventually pave the way for Dogecoin to reach a new all-time high (ATH).
DOGE Is Repeating A Historical Pattern
In an X post, crypto analyst Master Kenobi revealed that the Dogecoin price is repeating a historical pattern. The analyst noted that, like December 2023, December 2024 also saw a local peak following a pump that began at the end of October. He added that both price pumps in 2023 and 2024 originated from a boring, sideways zone that began in late August.
Since the initial zones and duration are identical in both situations, Master Kenobi predicted that what follows next will be similar to the 2023 price action. Based on this, he remarked that an important pump is imminent for the Dogecoin price. A repeat of the 2023 price action could lead to a 3x increase.
However, the analyst suggested that DOGE could enjoy more than a 3x price increase this time because the first phase of this current price action is stronger than the one in 2023. A 3x increase would still be enough to send the Dogecoin price above the psychological $1 level. Master Kenobi predicts that this pump should happen in the early days of February and close beyond March 1.
At the time of writing, the DOGE price is trading at around $0.315, down over 10% in the last 24 hours, according to data from CoinMarketCap.
