DOGE May Undergo a 33% Correction, Targeting the $0.11-$0.12 Range

As observed from Kriptokoin.com, the cryptocurrency market remains highly volatile. The analyst known as Cheds has highlighted that if Dogecoin (DOGE) loses

An crypto analyst is detailing what levels of support could be crucial for another large gas fee spike.

According to the analyst Cheds, says that if Dogecoin (DOGE) loses a key support region, then the memecoin could continue to drop by 33%.

“Looks like we're going to $0.11-$0.12 for DOGE. Still no reason to be bullish yet.

Chart is still looking weak and suggests lower lows to $0.11 to test that support.

Still facing strong descending supply trend.”

At the time of writing, DOGE is currently trading at $0.166.

The crypto strategist is also looking at Ethereum (ETH), which he says is heading towards a "huge level of support" around $1,000.

“ETH is now getting slammed. Dropped from $3,400 to $1,840.

Would buy 1-2k.

Might get 1-3k on the retest.

But personally wouldn't buy anything above $2,500.

Expecting $1,200-1,300 for a huge level of support.”

ETH is currently trading at $1,863.

Next up is Ripple’s native token XRP, which the analyst says could see buyers take control if the token manages to stay above $2. But if the token drops below this level, then traders could want to prepare for more weakness.

“Thinking about closing out some positions if XRP can hold above $2.

But if it drops below, then we'll be adding more.

Still very bearish on the broader market.

But wouldn't mind some new entries on Friday.”