Headline: Analyst says DOGE may head to $0.08 after falling out of a multi-year ascending channel
A crypto analyst on X (formerly Twitter) says Dogecoin could be on track for a drop to $0.08 after breaking down from a long-running technical pattern.
What happened
- Analyst Ali Martinez flagged a bearish breakout from a multi-year Ascending Channel on DOGE’s 3‑day chart. An Ascending Channel is a parallel-channel consolidation where price oscillates between two upward-sloping trendlines; the upper line typically acts as resistance and the lower line as support.
- According to the chart Martinez shared, Dogecoin “capped off 2025” by slipping below the channel’s support line and has followed a steep downwards move since — a classic sign that a bearish breakout may be in effect.
Why $0.08?
- A common technique for measuring channel breakouts is to project a move equal to the channel’s height (the distance between the two trendlines). Using that method, Martinez puts a potential downside target for DOGE at about $0.08.
- That’s a scenario, not a certainty; DOGE could continue lower, or it could find buyers and rebound before reaching that level.
Related notes on Bitcoin
- Martinez also pointed out that Bitcoin has been trading inside a Symmetrical Triangle on the 4‑hour chart — a converging pattern that can resolve with a sharp move. Based on the triangle’s height, he suggests BTC could be set up for roughly a 15% move when the pattern resolves.
Market snapshot
- At the time of Martinez’s post, Dogecoin was trading around $0.13, up more than 8% over the previous 24 hours.
Bottom line
- The break below a long-term ascending channel is a bearish technical signal and gives a measured downside target near $0.08 if the pattern plays out. As always, technical analysis provides probabilities, not guarantees — traders should weigh risk management and fundamentals before positioning.
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