Dogecoin Plunges to Record Lows—Can Bulls Stage a Comeback to $0.171?

Dogecoin's freefall continues as the meme coin hits fresh depths. Once the darling of crypto Twitter, DOGE now struggles to find footing—down 78% from its 2021 peak.

Will the bulls step in?

Key levels to watch: $0.171 emerges as critical resistance. A clean break above could signal relief, but skeptics note the 'Walmart Rolex' of crypto still trades on Elon Musk tweets and retail FOMO.

Meanwhile, institutional investors quietly rotate into ETH staking yields—because nothing says 'serious asset class' like betting on a Shiba Inu logo.

The Dogecoin price recently spiraled lower, mirroring Bitcoin’s sharp fall below $100k and the broader crypto market fall. The mood shifted from optimism to caution almost overnight as whale activity picked up, igniting a violent sell-off. A staggering $700 million DOGE flowed from large holders, intensifying downward momentum and sparking jitters among retail traders. 

As prices smashed through the crucial $0.16466 level, technical alarms became undeniable, confirming a bearish break. With nerves stretched, investors are now questioning: will Doge find its footing soon, or will it go deeper into lows? If you are one of them, then this price analysis is a must-read for you. 

DOGE Price Analysis

Checking DOGE’s four-hour chart, the action paints a tale of persistence and pressure. The Doge price stumbled under the 78.6% Fibonacci retracement at $0.16466 and now trades at $0.1619, marking a daily dip of 0.69% and a week-long slide of 10.56%. Successively, technical signals remain bleak, with the RSI dipping to 45.99 and hugging oversold territory.

That being said, the support now lines up at the October low of $0.1525. Should bears overpower this level, the next landing spot sits at $0.14. Each retest of these lines has increased risk for bulls, as stop-losses below the Fibonacci support fuel further downward momentum. The 200-day SMA, high above at $0.20925, justifies how far DOGE’s price has retreated from its medium-term trend.

For price watchers hoping for relief, keep your eyes on $0.171. This point marks the best chance for a bounce. A daily close above can trigger short-term bullish momentum and drive a swift run toward $0.18766. However, unless buyers flood in to reclaim lost ground, the bias stays firmly bearish.

If the next support gives way, downside could escalate rapidly to $0.14. Contrarily, a breakout above $0.171 could shift sentiment and invite quick gains back into the range. When to expect targets? The speed of moves in DOGE tends to surprise, but based on current momentum, a break to $0.1525 or a rebound to $0.171 could play out in the next 3 to 5 sessions.

FAQs

The next major support is $0.1525. If that fails, DOGE could test $0.14 quickly.

Relief depends on reclaiming $0.171 with a daily close. Without strong buying, rallies may be short-lived.

Yes, the RSI indicates oversold conditions, but there’s no bullish divergence yet to hint at a reversal.