As most of the crypto market witnessed a decline towards the end of the business week due to geopolitical tensions, Dogecoin (DOGE) was no exception. The meme coin, which had mirrored the market’s downturn following the Israeli aggression against Iran, has managed to claw back some losses from its Friday lows. However, renowned crypto analyst Ali Martinez believes that DOGE is teetering on the edge and could see a further 30% dip if it fails to hold a critical support level.
The support that Martinez identifies is the lower boundary of a symmetrical triangle pattern that has been forming since DOGE’s early 2025 rally, where it frequently tested the $0.4 level.
Despite this, DOGE has struggled to sustain its momentum and experienced a sharp drop in the ensuing months. It hit its lowest price around $0.13 in early April, amidst the height of the US-trade war with the rest of the world.
The recovery that followed propelled DOGE above $0.25 in May. Unfortunately, this resurgence was fleeting, and at present, DOGE hovers around $0.175 after a weekly dip of 4.5% and a monthly drop of 23%.
If Martinez’s prediction comes true, DOGE’s price could slide to a new annual low, falling under $0.12. Another analyst, Andrew Griffiths, also leans towards a pessimistic future for DOGE, citing a pattern of consecutive lower highs as a clear indication of bearish rejection.
