Dogecoin Price Crash Looms as Flag, Death Cross, Falling DOGE ETF Inflows Coincide
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Highlights
- Dogecoin price has formed a bearish flag pattern on the weekly chart.
- It is about to form a death cross pattern as the 50-day and 200-day cross each other.
- Inflows of the recently launched DOGE ETF have slowed.
Dogecoin price has crashed in the past few weeks as it moved into a bear market. DOGE has dropped by 36% from the September high, and numerous catalysts points to a steeper plunge as its ETF inflows slow.
Frequently Asked Questions (FAQs)
1. What is the most likely Dogecoin price forecast?
The most likely scenario is where the DOGE price continues falling as it has formed a bearish flag pattern on the weekly chart. It is also about to form a rising wedge pattern.
2. Is DOGE a good coin to buy today?
Dogecoin is at risk of a strong bearish breakout in the coming days, making it a risky buy today.
3. What is the main risk for the Dogecoin ETF?
Dogecoin ETF inflows growth is slowing because of the ongoing risk-aversion among investors after the recent surge in liquidations.
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