In the wild and whimsical world of cryptocurrencies, there’s one meme coin that keeps fetching our attention: Dogecoin. Just when you thought it was all fun and games, serious considerations surface for investors. Recently, crypto analyst Charting Guy (@ChartingGuy) raised a red flag regarding Dogecoin’s future, hinting that he might just sell off his stash if it doesn’t bounce back past certain Fibonacci retracement levels. With Dogecoin hovering around $0.20, and a concerning drop of nearly 15% over the last week, the stakes are higher than ever! So, what exactly should Dogecoin enthusiasts keep an eye on? Let’s dive into this melting pot of technical analysis and market sentiment that’s shaping the narrative around this quirky coin. Will it rebound, or is it time to hang up the leash? LEARN MORE
Crypto analyst Charting Guy (@ChartingGuy) has issued a cautionary note on Dogecoin, suggesting he will sell the meme coin if certain Fibonacci retracement levels fail to break in the coming months. His statement arrives at a time when Dogecoin (DOGE) is trading around $0.20, according to the shared weekly chart on TradingView, showing a steep –14.94% weekly change.
When To Sell Dogecoin?
In the attached chart, a series of key Fibonacci retracements run from 0.0 up to 1.618 at approximately $4.13. Notable lines include the 0.382 Fib around $0.1397, the 0.50 Fib just above $0.1997 (near current price), the 0.618 Fib near $0.2677, the 0.702 Fib around $0.33, the 0.786 Fib around $0.43, and the 1.0 Fib near $0.76.
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