Dogecoin (DOGE) May Have Finished Its ABC Correction, This Analyst Says

A newly released video analysis by crypto commentator asif.eth (@asifeth) makes the case that Dogecoin is currently trading at what he calls a heavily undervalued level.

A recent video analysis by crypto commentator asif.eth (@asifeth) argues that Dogecoin (CRYPTO: DOGE) is heavily undervalued at its current price. He explained why he believes the coin’s ongoing ABC correction may have just concluded, using an Elliott Wave lens to examine the token’s price action.

According to the analyst, Dogecoin experienced a strong rise followed by "the first A correction and after that we got a B higher high, higher low… and after that we got a C type correction." He suggests that this final "C wave" may have brought the token back to a crucial support zone.

"This could be ABC and the current correction is playing out with an RSI at oversold territory, which is a strong buy signal," he added. While he admits that he may have miscounted the waves, he believes the structure indicates a large corrective phase that could be nearing completion.

The key price zone he identifies spans from around $0.24 to $0.18, which he repeatedly describes as a "very, very good" area to accumulate Dogecoin. He explains that the token has previously flipped this same range between support and resistance multiple times, making it a crucial level to watch.

"Huge supply turns to a huge demand zone," he remarked, referring to the fact that the token had previously flipped this same range between support and resistance several times.

While he is bullish within that zone, he sets $0.16 as a hard cutoff, below which he would exit a Dogecoin position. "If in any case… you break below $0.16, you have to sell that token," he states, as a drop beneath this level could invalidate the entire bullish setup. He highlights the risk of traders holding an altcoin below such a critical support, which could expose them to deeper losses if negative sentiment accelerates.

The analyst also points to the so-called Fib golden pocket, measured from what he identifies as Dogecoin's last major low in August 2024 to the subsequent price high. Overlapping that Fibonacci retracement with the $0.24–$0.18 demand zone reveals a strong agreement that the market views this band as pivotal to Dogecoin's long-term structure.

"It aligns exactly with our top supply zone," he explains, adding that this confluence—especially when combined with an oversold RSI reading—boosts the احتمال of a price rebound.

Although the analyst notes that Dogecoin's "hype" factor has diminished, he sees that lack of mainstream speculation as a positive, claiming "no one is selling Dogecoin like hyper aggressively," which could bode well for stability in the near term. He predicts that the sentiment will shift once traders realize the coin has bottomed in its ABC correction, especially if broader market conditions turn more favorable.

Concluding his commentary, he stresses the importance of watching these levels closely. He identifies the $0.24–$0.18 range as a prime accumulation zone, sets $0.16 as a clear stop-loss level in case the market breaks down and highlights that Dogecoin's price action around these thresholds will confirm whether the ABC correction is truly complete.

"Dogecoin is looking very, very good and very, very discounted in this whole market," he concludes, urging potential buyers to consider the coin's risk-to-reward ratio at a time when other traders seem to be overlooking it, anticipating the end of the so-called meme coin era.

At press time, DOGE is trading at $0.25, down 0.6% over the last 24 hours.