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.
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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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