Analyst Ali Martinez has abandoned his $15 price target for Dogecoin after the memecoin broke below a long-term rising channel that had defined its price action since inception. DOGE was trading around $0.0806, down about 6.6% for the week, sitting just below the $0.0813 support level that several analysts had flagged. The cryptocurrency remains 89% below its all-time high of $0.7316 set in May 2021. The bearish breakdown comes after a brief 30% rally in late August that has since faded, erasing the bullish momentum that had built up through whale accumulation and technical buy signals. The channel break invalidates the historical buying opportunities that had delivered 9,221% gains in 2017 and 30,694% gains in 2020.
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