Crypto analyst CrediBULL Crypto has revealed his bearish expectations for the foremost meme coin, Dogecoin (DOGE). Based on his analysis, the crypto token could drop to as low as $0.5 soon enough.
How Dogecoin Could Drop To As Low As $0.5
CrediBULL Crypto mentioned in an X (formerly Twitter) post that Dogecoin could drop to that price level depending on Bitcoin’s movement. He further revealed that he would be looking to open a short position if the meme coin first rose to between $0.18 and $0.20. Meanwhile, in a video posted on his YouTube channel, the analyst explained why he believed that Dogecoin could indeed drop this low.
According to CrediBULL Crypto, Bitcoin will likely suck a lot of liquidity from altcoins as it begins to rise. This will cause crypto tokens like Dogecoin to experience significant price declines since there isn’t enough liquidity to sustain an upward trend. Specifically, he noted that DOGE’s decline to $0.5 will come when Bitcoin hits $
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