Dave Hunter: “Golden Opportunity to Buy Dogecoin (DOGE) at a Discounted Price!”

Jakarta, Pintu News – The latest analysis from a crypto expert suggests that the price of Dogecoin (DOGE) may see a further decline. However, this also means an opportunity for traders to buy the asset at a lower price. According to Dave Hunter, an analyst at TradingView, this drop would be a good moment to accumulate Dogecoin (DOGE) before the price goes back up.

Dogecoin (DOGE) Price Drop Projection

According to recent analysis, Dogecoin (DOGE) has a high potential to experience a price drop to $0.125. This is because Dogecoin (DOGE) failed to break through the critical resistance area at $0.24. If this condition continues, it is certain that Dogecoin (DOGE) will face an even deeper decline.

Crypto market analyst Dave Hunter emphasizes that this is the more likely scenario given the market performance and volatility that Dogecoin (DOGE) is currently experiencing. This drop is expected to open up opportunities for traders to buy Dogecoin (DOGE) at a discount. Hunter advises traders to refrain from buying Dogecoin (DOGE) in the short term and wait until the price reaches its projected low.

Also Read: Cardano (ADA) Price Prediction by Alex Becker: Upside Potential or Excessive Speculation?

Trading Strategy for Weak Markets

In weak market conditions, Hunter advises traders to prioritize short positions over longs. This is because Dogecoin (DOGE) has shown a downward trend over the past few weeks. By initiating sales, traders can avoid further financial losses, especially if the Dogecoin (DOGE) price continues to fall.

In addition, Hunter also warned about the possibility of ‘liquidity sweeps’ that could trigger stop-losses of long positions, which in turn would add to selling pressure. This often increases volatility and could lead to further price declines due to reduced demand.

Buy Signal: Potential Dogecoin (DOGE) Price Rebound

On the other hand, there is good news for Dogecoin (DOGE) fans. Renowned crypto analyst Ali Martinez recently highlighted a buy signal that appeared on the daily chart of Dogecoin (DOGE). This signal appeared on February 27, signaling that Dogecoin (DOGE) may soon experience a price rebound.

Martinez emphasized that this is a good time for traders to consider entering the market. By following the liquidity cycle indicated by the Central Liquidity Score (CLS), traders can minimize risk and maximize potential profits from the upcoming Dogecoin (DOGE) price movements.

Conclusion: Best Time to Invest in Dogecoin (DOGE)

Considering all the analysis and projections, it seems that now is the right time to monitor Dogecoin (DOGE) and prepare to buy at lower prices. Although the market is showing signs of uncertainty, with the right strategy, traders can capitalize on this situation for long-term gains.

Also Read: Bitcoin (BTC) Trend Not Over? CryptoQuant CEO Analyzes!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Dogecoin Discount Incoming. Accessed on February 28, 2025
• Featured Image: Bitcoin Sistemi