2025-04-01 00:00:05 by The Daily Hodl

A closely followed crypto strategist is warning that top memecoin Dogecoin (DOGE) is at risk of heading to much lower levels amid the marketwide correction. Pseudonymous analyst Cheds tells his 353,200 followers on the social media platform X that he thinks DOGE could witness a 33% corrective move if it loses a key support area. “DOGE $0.11-$0.12 range incoming. Mark $0.16.” In a strategy session, Cheds explains why he thinks DOGE could tumble before potentially bottoming out. “There’s no reason to get excited [about DOGE]. It’s a bad chart. It looks like [$0.11] is going to come and test lower. [DOGE has] a really strong descending supply trend.” Source: Cheds/YouTubeAt time of writing, DOGE is trading for $0.166. Turning to Ethereum (ETH), the crypto strategist believes that the native asset of the top smart contract protocol is headed toward its high time frame support at around $1,000. “ETH now $1,840 from $3,400 below. Probably worth a sniff when it tags the $1,200-$1,300 range.” Source: Cheds/XAt time of writing, ETH is worth $1,808. Looking at the payments altcoin XRP, Cheds says that bulls have the upper hand as long as the coin is trading above $2. But he also says that holders should consider paring back risk if XRP moves below the key price level. At time of writing, XRP is worth $2.12. &nbsp Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/Ruslan__Grebeshkov/Viaire