The Dogecoin Price If It Fails To Stay above $0.4

The Dogecoin price has been stuck in a consolidation phase after experiencing double-digit gains this month. Earlier in November, Dogecoin rose from around $0.2 to over $0.4, driven by increased demand fueled by the post-election bullish sentiment.

While many expected Dogecoin to easily surpass the $0.4 price mark and reach new all-time highs, the popular meme coin has unfortunately been stuck in this crucial area, often testing this resistance to attempt a breakout. Given its current struggle around this level, crypto analyst Ali Martinez has revealed in an X (formerly Twitter) post the bearish scenario that could follow if Dogecoin fails to clear the above-mentioned resistance.

Martinez disclosed that the $0.4 mark was a critical threshold for Dogecoin, which could lead to its next price rally or crash. The analyst noted that a sustained break above this crucial level would send the Dogecoin price to $0.43, providing more room and fewer barriers for a potential rally.

On the other hand, if Dogecoin fails to clear the $0.4 resistance level, Martinez has predicted that this could trigger a significant price dip to the $0.36 mark. The analyst emphasized that Dogecoin could even see its price plummeting to $0.34, marking new lows.

In November, Dogecoin rallied as high as $0.48, marking impressive gains in this bull cycle. While its price has corrected over the past few weeks, many analysts, including Martinez, remain optimistic about the meme coin’s bullish potential. The analyst previously projected a massive 120% increase to $0.82 for Dogecoin this cycle.