The price of dogcoin is stuck in a bear market after more than 47% of its crashes from their highest level in December.
DogeCoin (DOGE) token was trading at $ 0.255 on Thursday as recovery was reduced after the accident last week.
Many crypto investors believe that the Securities and Exchange Commission will approve a spot -dog ETF later this year. As PolymarketThe possibility of a spot dogcoin ETF in January rose to 62% on Thursday.
Companies such as Rex Ospre and Bitwaiz have so far filed for a dogcoin ETF, and many others can follow.
Meanwhile, many traders believe that the Donald Trump administration will not approve a strategic dogcoin reserve this year. The possibility of this happens is stuck at 10%.
Another prediction suggests that the price of Dogocine will jump and collide with $ 1, as the coin has fallen. Kalashi Data suggests that the price of Dogcon is colliding with $ 1 by June 1, which has fallen to 5%.
Similarly, this possibility to be held by January 2026 exceeds 60% in November last year. At $ 0.2 with dogcorn trading, it will have to jump up to 400% to reach $ 1. A spot ETF approval and high expectations of potential flow can be a catalyst for coins.
Dogocine price technical analysis
The daily chart suggests that Dogge is under pressure after falling more than 47% from its highest level in December. It remains below 50% Fibonacci Retress Point at $ 0.2825.
DogeCoin is also about creating a death cross pattern in the form of spread between 50-day and 200-day exponential moving averages. A Death cross often takes more negative side as it indicates that the bears have become strong.
Dogecoin has formed a break and retest pattern in December by going back to its lowest swing $ 0.2622. A brake and retract are also a slowdown continuity signal.
It is also making a recession flag chart pattern. Therefore, there is a risk that the coin will break up a strong recession, potentially $ 0.20, the lowest point this month. Dogs to fall by a drop $ 0.15 below that level falls at 78.6% fibonaccie at the retracement level.
