Dogecoin Alert: 20% Plunge Imminent Unless Bulls Charge Back

Dogecoin teeters on the edge as bullish momentum fades—threatening a steep 20% correction that could wipe out recent gains.

Technical Breakdown

The meme coin's charts show weakening support levels that haven't been this vulnerable since the last major pullback. Trading volume dropped 35% this week while whale activity suggests big players are taking profits rather than building positions.

Market Psychology Shift

Retail traders who fueled the last rally appear to be losing conviction. Social sentiment metrics show Dogecoin mentions down 42% with bearish commentary outpacing optimistic takes for the first time in months. Even the usual 'buy the dip' crowd seems hesitant at current levels.

Make-or-Break Scenario

Unless buying pressure returns substantially within 48 hours, technical analysts predict cascading sell orders could trigger that dreaded 20% slide. The $0.12 support level becomes critical—a breakdown there opens the door to sub-$0.10 territory.

Meanwhile, traditional finance analysts continue questioning whether an asset originally created as a joke should be taken seriously—proving once again that Wall Street understands meme culture about as well as your dad understands TikTok.

Dogecoin (DOGE) has recently pushed past the $0.24 mark, signaling renewed strength in its price action after weeks of sideways movement. The rally has attracted fresh retail interest and sparked optimism about a potential continuation toward higher resistance levels. However, momentum appears fragile as trading volumes show signs of cooling, and larger holders are beginning to take profits. With sentiment across the broader crypto market turning cautious, DOGE price now sits in a crucial range. Failure to ignite a rebound here could expose the meme coin to a sharp 20% pullback.

Will the Dogecoin (DOGE) Price Plunge Below $0.2?

In the past 24 hours, Dogecoin (DOGE) saw a notable on-chain move as a whale transferred around 122 million DOGE (worth nearly $28.5 million) off Binance to a private wallet. Such exchange outflows are often viewed as a sign of accumulation and confidence in long-term prospects, reducing immediate selling pressure on the market. This aligns with recent data showing large holders steadily adding to their positions despite short-term price volatility. If bullish momentum holds, DOGE may attempt another rebound from its current range, but failure to sustain demand could still trigger a steep pullback.

The weekly price chart of Doge suggests the popular memecoin is still in a consolidation phase, but the bulls are in control. The price continues to trade within the upper bands of Bollinger, which usually suggests strength and bullishness in the market. Instead of sharp pullbacks, the token is digesting gains, which often precedes another upward leg. It also suggests the popular memecoin could be preparing for a breakout higher if the buying volume picks up. On the contrary, if the consolidation lingers too long or bands begin to widen excessively, it can also signal overbought conditions and a possible short-term correction. 

On the other hand, the CMF is displaying bearish divergence below 0, signaling the buying pressure is weakening, even though the price continues to consolidate. This is a red flag, indicating the rally may lose momentum. Therefore, the dogecoin (DOGE) price appears to be at the crossroads, as the possibility of an extended pullback looms over the rally. If the price fails to defend the support at $0.2, a drop to $0.18 is imminent.