Key notes
- Crypto analyst Ali Martinez highlights a level of critical support for DOGE at $ 0.13, where a growing trend since October 2023.
- This level is essential in the middle of ongoing whale sales, with 1.32 billion doches discharged in the last 48 hours.
- The wider market of cryptography, including Dogecoin, undergoes strong sales pressure due to the climbing of Trump’s trade war and the growing fears of the recession.
In the midst of the wider crypto market accident led by Trump Trade War, Dogecoin (DOGE) underwent high sales pressure in last week, of the 15% tanking and a drop of less than $ 0.15.
However, data on the chain show that the largest part of memes in the world has recently experienced a strong accumulation.
Dogecoin in the accumulation phase
The merchant of the eminent crypto analyst late observed a Wyckoff potential accumulation model forming in Dogecoin (DOGE), signaling a possible market reversal.
Although the current action of DOGE prices deviates slightly from the manual Wyckoff model, especially in phase B, where prices are slightly higher than the habit beaches. The Crypto analyst stressed that Dogecoin still presents most of the key characteristics associated with the accumulation of Wyckoff.
#Dogecoin underwent a source of accumulation of Wyckoff 🔥
The current motif does not perfectly correspond to the typical Wyckoff accumulation, because the price of phase B is slightly higher than usual. Again, $ DOGE Share most of the characteristics of the accumulation of Wyckoff 🚀 pic.twitter.com/ilzscasvkk
– Trader Tardigrade (@tatrader_alan) April 8, 2025
This evolution suggests the possibility of a bullish break if the model ends as planned. However, the analyst warns that the gap in phase B can again induce volatility in the Dogecoin price.
Doge’s price tests crucial support levels
The Crypto Ali Martinez analyst has highlighted a critical level of support for Dogecoin (DOGE), highlighting his membership in an increasing trend line since October 2023. This trend is now believed with the Fibonacci recovery level of 61.8% to $ 0.13, marking a pivot price for cryptoculture.
Since October 2023, #Dogecoin $ DOGE Respected an increasing trend line which now converges with the FIB retracement of 61.8% to $ 0.13, making it a level of key support to monitor. pic.twitter.com/fslblecpiu
– Ali (@ali_charts) April 8, 2025
The activity of Dogecoin whales also increased recently with more than 1.32 billion DOGE sold in the last 48 hours. Thus, continuous sales pressure and the convergence of technical indicators suggest that $ 0.13 will be a key level to monitor in the coming days.
The cryptocurrency market was faced with high sales pressure as Trump’s trade war has intensified, with 104% tariffs on China taking effect on April 8. American shares, bond markets and gold have all dropped recently, reflecting investors’ concerns concerning a potential global recession.
Altcoins have suffered the most from this brutal market correction, with Ethereum more than 56% since the start of the year. Even Doge’s price was corrected by 53% while the euphoria surrounding the Dogecoin FNB quickly faded despite the user -friendly Trump administration of crypto.
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Bhushan is a fintech enthusiast and has a good flair in understanding the financial markets. Its interest in the economy and finance draws its attention to the new technology of emerging blockchain and the markets of cryptocurrencies. He is permanently in a learning process and motivates himself to share his acquired knowledge. In free time, he reads fiction novels to thriller and sometimes explores his culinary skills.
