Dogecoin Faces Potential 60% Plunge, Crucial Support Level at $0.16

Crypto analysts warn that Dogecoin’s price could experience a sharp drop of up to 60%, with support levels below $0.16 posing a significant risk. Key on-chain data reveals a thinning of support around the $0.16 mark, and next demand zone lies near $0.07, which holds 28.26 billion DOGE (18.63% of total supply). This critical level needs to hold for a bullish run toward $0.25.