What if we gave $DOGE an Elliot Wave analysis?

NOT FINANCIAL ADVICE

Have we seen the top for DOGE?

Did SNL's skits played into Dogecoin's fall?

Were whales responsible for the flash crash (massive short sells)?

Back to Ralph Nelson Elliot's teachings..

If this is a top, then expect DOGE to visit the 61.8 retracement levels with TP $0.29 in the midterm.

At the moment it has crossed 32.8 fib levels briefly as the Bulls are doing their best to turn this around.

It has to be said that short-term selling pressure is immense -- price visited oversold RSI region but stochastic is showing a good reversal.

If this can be sustained, we can expect a quick rebound and perhaps avoid $0.29 entirely.

However, if we're only to decipher, via Elliot Waves, the probable path of least resistance here, it is to the downside.

May the DOGE be with you~