Dogecoin: From Moon to Litter Box? 🐶💩

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Ah, Dogecoin. The cryptocurrency that’s less of a rocket ship 🚀 and more of a confused puppy chasing its tail. Lately, its price action has been about as exciting as watching paint dry-if the paint were made of investor tears. 🥲 A technical analyst, armed with the mystical Elliott Wave theory, has decided to rain on the Doge parade, predicting a corrective phase that might make you wish you’d invested in cat memes instead. 🐱

According to this soothsayer of spreadsheets, Dogecoin could be headed for a “worst-case scenario” that involves more backpedaling than a politician during election season. 🏃‍♂️💨 Apparently, the current formation is less “to the moon” and more “back to the doghouse.” 🐶🏠

Wave 4: The Never-Ending Dog Nap 😴

Let’s rewind to 2021, when Dogecoin hit its peak at $0.73, thanks to meme coin mania and a certain billionaire’s tweets. Since then, it’s been stuck in a multi-year corrective wave-or, as I like to call it, a never-ending dog nap. 😴 This “Wave 4” pattern, which started around May 2021, has been marked by sideways consolidation so prolonged, it makes airport security lines look efficient. 🛫 The analyst notes overlapping structures and A-B-C corrective sequences, which sound like the alphabet soup of financial doom. 🍲

Alternatively, the price pattern could be forming a “leading diagonal,” which sounds like something you’d find in a geometry class, not a financial forecast. 📐 This diagonal, which began in late 2023, suggests steep retracements before the trend continues. Dogecoin has already hit the 0.5 Fibonacci retracement level, and the 0.618 level-a stronger support zone-is just a few cents away. Because nothing says “financial stability” like a coin teetering on the edge of a Fibonacci cliff. 🌋

Dogecoin Chart: A Rollercoaster to Nowhere

Despite Doge bulls defending the $0.15 to $0.17 range like it’s the last bone in the house, the analyst predicts a potential drop into “single-digit cents” territory. That’s right-we’re talking 0.618 to 0.786 Fibonacci levels, which is financial jargon for “time to start selling your Funko Pops to cover losses.” 🧸

This doomsday scenario involves a retest of the lower boundary of the long-term channel, completing a sub-impulse wave (ii) or a final leg C below $0.10. Because nothing says “hope” like a coin priced lower than a pack of gum. 🫗

Silver Linings and Dog Treats 🦴

The idea of Dogecoin dipping below $0.10 seems as likely as a cat and dog sharing a bed without drama. 🐱🐶 Yet, it’s not entirely off the table, especially if selling pressure intensifies. A 33% move to $0.10? That’s less of a drop and more of a freefall. 🪂

But fear not, Doge devotees-even if this happens, it wouldn’t necessarily invalidate the long-term bullish structure. It would just be a final “flush-out,” typical of late-stage corrections. Think of it as the cryptocurrency equivalent of a dog shaking off water after a bath. 🐕💦

If the $0.16 support holds, the next rally could aim above $0.5. Break and close above that, and the fourth impulse wave analysis goes out the window. As of now, Dogecoin is trading at $0.1774, down 1.9% in the past 24 hours. So, basically, it’s having a worse day than you did when you realized you left your coffee on the roof of your car. ☕🚗

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2025-11-12 02:24