$DOGE Price hovers above $0.4: What if it falls?

Doge has been stuck in a consolidation phase this month after a series of double-digit gains. Back in early November, the coin surged from around $0.20 to over $0.40, driven by post-election optimism.

Many investors had high hopes that Doge would easily cross the $0.40 price mark and hit a new all-time high. However, the MEME coin has been lingering in this key area, repeatedly testing this resistance level in an attempt to break through.

In the face of Doge's current predicament, Martinez posted an analysis on a social platform, revealing the pessimistic outlook that may come if Doge fails to successfully break through the above resistance level.

Martinez pointed out that $0.40 is a critical tipping point for Dogecoin, which may determine whether the coin's price trend will continue to rise or fall sharply. Analysts stressed that if Doge can continue to break through this key level, its price is expected to climb to $0.43, clearing more obstacles for potential upside.

However, if Doge fails to successfully cross the $0.4 resistance level, Martinez predicts that this may trigger a significant price correction to around $0.36. He even warned that Doge's price may even fall further to $0.34, setting a new low.

Looking back at November, Doge once soared to a high of $0.48, achieving remarkable gains in this bull cycle. Despite the price correction in the past few weeks, many analysts, including Martinez, are still optimistic about Doge's upside potential. Previously, the analyst predicted that Doge would achieve a gain of up to 120% in this cycle, with a target price of $0.82.

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