Dogecoin Suffers Massive 36% Crash in 2 Days: Will DOGE Recover Ever?
Author:Published on: 04 Feb 2025, 5:31 amKey Insights:Dogecoin started its recovery journey just one day after it lost 36% of its price.The recent crash in the crypto markets resulted from Donald Trump's tariff war against Canada, Mexico, and China.Fears of global recession led to the sell-off in crypto and stock markets.Dogecoin's Morningstar candle on its 1D charts shows that the bearish period is now over.DOGE may soon recover beyond $0.46, its last significant high, if its ETF gets approval.Dogecoin Dropping 36% in 2 DaysDogecoin ETF Price Trends in the Last 7 DaysCoinMarketCapIn the last 48 hours, Dogecoin has crashed more than 36% from $0.33 to $0.21. At press time, DOGE was trading for $0.26, down by 17% over the last 24 hours.The cause of this crash can be attributed to a sharp downturn in the crypto and stock markets. Both markets reacted sharply to Trump's tariffs on Canada, Mexico, and China. Previously, Trump has also threatened India and the EU with similar tariffs.What is Happening to Dogecoin? Will it Recover?Dogecoin is currently undergoing a tussle caused by multiple bullish and bearish factors. On the bullish side, there are factors like Dogecoin ETF, a possible repeat of historical patterns, and a possible inclusion in the US National Digital Assets Stockpile. DOGE has also seen whale accumulations in the recent past.On the bearish side, there are influencing factors, like the recent market crash that took DOGE down by 36% in a period of 48 hours. Further, memecoins also have a high degree of volatility.Top DOGE Price Predictions by ExpertsSeveral experts have brought the attention of the crypto markets towards the repeat of charts from 2021 and 2017. Chart analyst Ali Martinez had previously shared an analysis where he claimed that DOGE could rally at least 5000% from $0.3 levels to reach $15. On the higher side, DOGE could reach $36 after a 12000% rally.Ali has been re-iterating his claims, saying in the last rally, DOGE rallied by 10,000% in about 98 days.Dogecoin Chart Analysis and Price PredictionsDogecoin USDT Charts TradingviewDogecoin price charts indicate that the recent correction has been mostly reversed and it is very less likely that the correction will continue in the near future. Further, with the formation of a Morningstar candle for 3 Feb 2024, we assume the recovery will be much faster than expected.The Morningstar candlestick pattern is the reverse of the Doji pattern and indicates that the current bearishness in the crypto markets has ended.Now, the levels of $0.31, $0.40, and $0.46 remain critical upside resistances. If the Dogecoin ETF gets approval, DOGE may recover above those levels shortly.On the downside, $0.21 and $0.27 remain critical support levels. Any move beyond $0.33 in DOGE could help it establish a rally till $0.46, after which its price would eventually set the course for a repeat of historical chart patterns. If charts from 2017 and 2021 repeat, they could take DOGE towards $15 and $36, respectively. Will the Recent Market Chaos Affect Dogecoin?The recent market chaos of US tariffs, the Deepseek scare, and SEC cases will have a minimal impact on DOGE. This is because DOGE plays no role in global trade except as a medium of transfer for very small transactions. Further, DOGE has zero connection with AI coins and is very unlikely to get impacted from that too.However, many more positive factors can help DOGE establish itself as a top altcoin. These factors are ETF approvals and the US National Digital Assets Stockpile. The first factor seems natural because of two major ETF applications from Grayscale and Bitwise. However, the second factor might surprise you.Due to these factors, Dogecoin is very close to being in the US crypto reserve. First, it is a major memecoin and could be considered the backbone of the entire memecoin sector. Also, since Billy Markus and the team created DOGE in the US. Finally, it is the favorite crypto of Elon Musk, a key person in the US Government.Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.