Dogecoin has slipped into an oversold territory, trading below both its 50-day and 200-day moving averages — a configuration that points to continued bearish momentum.
Market Overview
• Crypto markets remain in extreme fear as Bitcoin drops below $85,000.
• The total crypto market lost nearly $120 billion in 24 hours amid broad risk-off sentiment.
• Meme coins are undergoing widespread deleveraging, with liquidity across major exchanges thinning.
• Whale buying, active over the past two weeks, has slowed significantly.
• Forced liquidations are occurring across altcoins as macro pressures mount.
DOGE Price Action
• DOGE fell 11.2%, from $0.1578 to $0.1401, breaking multiple support layers.
• Trading volume spiked to 2.52B, a 263% increase over the 24-hour SMA.
• The decline began around 07:00 UTC, following rejection at $0.1595, triggering sustained downward momentum.
• Capitulation occurred between 07:33–07:36 UTC, with over 500M in turnover as price gapped from $0.144 to $0.138.
• The token attempted to stabilize near $0.140, forming a tentative short-term floor.
• The session printed consecutive lower highs and lower lows, confirming structural weakness.
Technical Analysis
Dogecoin’s chart shows clear bearish damage driven primarily by technical breakdowns. Rejection at $0.1595 triggered selling pressure that intensified as liquidity dried up across meme-coin order books.
The rapid drop from $0.144 to $0.138 reflects algorithmic or institutional sell programs, with minute-by-minute gaps pointing to displaced liquidity likely requiring future backfills.
Volume metrics underscore the severity: 2.52B total volume, including 500M during the crash, indicates large-scale distribution rather than retail panic. Despite stabilization attempts near $0.140, the ongoing pattern of lower highs and lower lows keeps the trend decisively bearish.
Momentum indicators are deeply oversold but show no bullish divergence. Trading below downward-sloping 50-day and 200-day moving averages confirms that the downtrend remains intact.
Key Levels to Watch
• $0.138 is critical support; a breach could open the path to $0.135 and $0.128.
• $0.140 must hold as a base to prevent deeper structural damage.
• Backfilling the $0.144 liquidity gap would indicate early recovery attempts.
• Further Bitcoin weakness could accelerate downside pressure on DOGE.
• Whale inactivity adds near-term caution.
• Any DOGE ETF-related news could spike volatility but is unlikely to reverse the broader trend immediately
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