Dogecoin And Pepe Check Important Support Level: What Investors Need To Know

This week, the cryptocurrency market has witnessed significant volatility, with the prices of Dogecoin (DOGE) and Pepe (PEPE) dropping by more than 10%. On Thursday, both memecoins are testing key support levels, which may present potential buying opportunities for investors as prices fall. However, caution is advised as the momentum indicators for both tokens show signs of weakness. Dogecoin (DOGE): Important support area at $0.35 Dogecoin reached its highest level of the year at $0.48 on December 8, but has since dropped by 23%, checking the important support levels around $0.35. This level coincides with the 50-day exponential moving average (EMA) and represents the 61.8% Fibonacci retracement level of the previous price increase from $0.14 to $0.48. Analyzing the level of support: The $0.35 level is a key area for DOGE. If held, there is a possibility that the price will recover to $0.41, corresponding to a 13.5% increase from the current level. If DOGE cannot establish support at $0.35 and closes below $0.34, the price may further decline to $0.31, a 7% decrease from the current level. For external investors, $0.35 can be an opportunity to enter the market, especially if they observe a recovery at this important support level. Pepe (PEPE): Check the important withdrawal level at $0.000018 Pepe reached a new all-time high (ATH) of $0.000028 on December 9, but quickly witnessed a 26.6% pullback in the following days. As of Thursday, PEPE is testing a 50% pullback from the November 4 low of $0.000007 to the ATH of $0.000028, at $0.000018. This pullback closely links to the daily support level of $0.000017, making it an important area for potential reversal. Analyze the level of support: If PEPE can hold the support level at $0.000018, the price may recover significantly, potentially rising 28% to $0.000024, the last recorded level on Monday. However, if PEPE fails to maintain the support level at $0.000018 and closes below $0.000017, the price could drop 6.8% to test the weekly support level at $0.000016. For investors looking to buy memecoins under the frog theme, $0.000018 is an important area to watch. A successful recovery from this level could lead to a strong rebound. Conclusion: Proceed with caution Both DOGE and PEPE are currently at important support levels. Although these memecoins may provide buying opportunities for investors looking to take advantage of potential recovery, traders should exercise caution. The weakness of the momentum indicators suggests that there may be further declines if the support levels are not held. Investors should closely monitor price action and consider placing stop-loss orders to manage risk. When both DOGE and PEPE are testing important price levels, the next few days will be crucial in determining whether these memecoins can maintain their recent upward momentum or continue to decline. DYOR! #Write&Earn $DOGE $PEPE {spot}(PEPEUSDT) Please provide the text to be translated. {spot}(DOGEUSDT)