Dogecoin (DOGE) Faces Renewed Pressure – Is Another Sharp Correction Imminent?

Dogecoin's recent struggles intensify as the meme coin battles key support levels. Market sentiment turns cautious amid growing volatility concerns.

Technical Breakdown

DOGE charts show weakening momentum patterns that typically precede significant moves. Trading volume patterns suggest institutional players are positioning defensively ahead of potential market shifts.

Market Psychology Shift

The 'buy the dip' mentality that previously supported DOGE appears to be fading among retail traders. Meanwhile, whale activity indicates larger holders are quietly reducing exposure—never a comforting sign when combined with retail hesitation.

Regulatory Shadows

Broader cryptocurrency faces increased regulatory scrutiny that disproportionately impacts assets lacking clear utility narratives. Dogecoin's fundamental case remains tied to community enthusiasm rather than technological innovation—a vulnerability when markets turn risk-averse.

As traditional finance types smugly remind us, 'fundamentals eventually matter'—even in crypto. Whether DOGE proves them wrong again or finally validates the skeptics remains the billion-dollar question hanging over this market.

Dogecoin Price Turns Red

Dogecoin price started a fresh decline after it closed below $0.2550, like Bitcoin and Ethereum. DOGE declined below the $0.250 and $0.2450 support levels.

The price even traded below $0.2350. A low was formed NEAR $0.230, and the price recently attempted a recovery wave. There was a move above the 23.6% Fib retracement level of the main decline from the $0.2888 swing high to the $0.2302 low.

However, the bears were active near the $0.250 resistance. Besides, there is a bearish trend line forming with resistance at $0.2450 on the hourly chart of the DOGE/USD pair.

Dogecoin price is now trading below the $0.250 level and the 100-hourly simple moving average. If there is a recovery wave, immediate resistance on the upside is near the $0.2450 level and the trend line. The first major resistance for the bulls could be near the $0.250 level.

The next major resistance is near the $0.260 level. It is close to the 50% Fib retracement level of the main decline from the $0.2888 swing high to the $0.2302 low. A close above the $0.260 resistance might send the price toward the $0.2780 resistance. Any more gains might send the price toward the $0.2840 level. The next major stop for the bulls might be $0.2920.

More Losses In DOGE?

If DOGE’s price fails to climb above the $0.2450 level, it could continue to MOVE down. Initial support on the downside is near the $0.2320 level. The next major support is near the $0.230 level.

The main support sits at $0.2250. If there is a downside break below the $0.2250 support, the price could decline further. In the stated case, the price might slide toward the $0.2120 level or even $0.2050 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level.

Major Support Levels – $0.2320 and $0.2300.

Major Resistance Levels – $0.2450 and $0.2500.