Trading Channel Warns Of Impending Price Drop For Dogecoin (DOGE)
In a recent YouTube video, the trading channel More Crypto Online highlighted the ongoing sluggishness on Dogecoin’s (DOGE) charts. In addition to this, the meme coin has seen a notable decrease in on-chain activity, prompting concerns among investors. According to their latest Analysis , the meme coin is at risk of dropping swiftly in the coming weeks. Their Analysis suggested that Dogecoin was following a downward trend on its 8-hour chart, potentially forming an ending diagonal pattern. The video also pointed out that the November high marked the beginning of DOGE’s price correction, which was shortly followed by a second move up. However, the absence of a clear third wave in the current Elliott Wave structure indicated the likelihood of a fourth and fifth wave — suggesting that there could be further price drops in the near future. While acknowledging the complexity of the structure, the More Crypto Online team pointed out that the current wave count seemed to a...