Dogecoin (CRYPTO:DOGE) is under significant bearish pressure, with analysts predicting a potential drop to $0.09 amid ongoing market instability.
YG Crypto, a prominent cryptocurrency analyst, highlights a critical support zone between $0.11200 and $0.11500 that, if breached, could trigger a deep correction downward.
Despite the current bearish bias indicated by a downward channel, there's still optimism that DOGE could rebound if it breaks above $0.16, aiming for higher price levels like $0.170 and $0.176.
However, other analysts, such as Kaleo, suggest a more pessimistic outlook, foreseeing a possible decline to $0.08 or $0.1 before any significant upward movement, attributing the current downturn to broader market trends and historical price behaviors of DOGE.