Despite recent gains, a notable analyst has issued a warning that Dogecoin (DOGE) could see a significant price drop of up to 65%, if it fails to maintain support at a critical level. This prediction comes as other analysts anticipate a rally, with some forecasting prices to reach $0.44 based on specific technical chart patterns. While the meme coin has seen a 3% increase in value over the past week, trading around $0.16 currently, this resurgence faces a major hurdle: a crucial support level at $0.17. 0 Ali Martinez, with his substantial following on X, predicts that if DOGE fails to reclaim this level, its value could plummet by as much as 65%, reaching as low as $0.06. While this prediction highlights potential risks for Dogecoin investors, technical indicators like the RSI offer some insights into the coin’s overall momentum. A reading above 70 typically indicates an asset is overbought and may signal a correction, while readings below 30 are considered bullish. This trend in DOGE’s RSI has been on the rise recently, currently hovering just below 70. The outlook for DOGE remains largely dependent on upcoming developments, especially the potential approval of a spot DOGE ETF in the United States. Prominent names like Grayscale and Bitwise are vying to launch such products, with earlier forecasts pointing towards over 75% chances before year-end. However, recent weeks have seen these odds decline, currently standing at just 52%, and even predictions for a spot DOGE ETF becoming reality before July 31 st stand at only 20%. On the optimistic side, analysts continue to express bullish expectations for Dogecoin’s future performance. Crypto X has suggested that DOGE may have completed a breakout on a falling wedge pattern, potentially leading to a price surge close to $0.28. Clifton Fx, another analyst, sees similar potential, predicting a price jump fueled by the formation of a falling wedge pattern on the 2-day timeframe. This could result in Dogecoin reaching as high as $0.44. The article