Dogecoin (DOGE) Bears Target Breakdown Below $0.20 Following Sharp Correction

Dogecoin's brutal selloff has traders bracing for a critical test of the $0.20 support level—a breakdown that could trigger another leg down for the meme-inspired cryptocurrency.

The Technical Breakdown

DOGE's recent plunge erased weeks of gains in mere days, leaving bulls scrambling for cover. That $0.20 mark isn't just psychological—it's become the line in the sand between stabilization and freefall. Break below it, and we're looking at a potential cascade of stop-loss orders hitting the market.

Market Sentiment Shift

Traders who rode the hype wave now face the classic crypto reality check—what goes up must come down, often faster than it rose. The same influencers who pumped 'to the moon' rhetoric have gone suspiciously quiet as charts flash red.

Because nothing says 'sound investment' like digital currency originally created as a joke testing support levels while traditional finance shakes its head—again.

What's Next?

All eyes remain glued to that $0.20 threshold. Hold above it, and DOGE might live to meme another day. Break below? Let's just say the bears won't be sending thank-you notes.

Dogecoin Price Dips Again

Dogecoin price started a fresh decline after there was a close below $0.2320, like Bitcoin and Ethereum. DOGE declined below the $0.220 and $0.2150 support levels.

The price even traded below $0.210. A low was formed at $0.2059 and the price is now consolidating losses. There was a minor recovery wave but the price is still below the 23.6% Fib retracement level of the recent decline from the $0.2672 swing high to the $0.2059 low.

Dogecoin price is now trading below the $0.2150 level and the 100-hourly simple moving average. If there is a recovery wave, immediate resistance on the upside is NEAR the $0.2160 level. There is also a bearish trend line forming with resistance at $0.2160 on the hourly chart of the DOGE/USD pair.

The first major resistance for the bulls could be near the $0.2280 level. The next major resistance is near the $0.2365 level. It is close to the 50% Fib retracement level of the recent decline from the $0.2672 swing high to the $0.2059 low.

A close above the $0.2365 resistance might send the price toward the $0.2450 resistance. Any more gains might send the price toward the $0.250 level. The next major stop for the bulls might be $0.2550.

Another Decline In DOGE?

If DOGE’s price fails to climb above the $0.2160 level, it could continue to MOVE down. Initial support on the downside is near the $0.2060 level. The next major support is near the $0.2020 level.

The main support sits at $0.20. If there is a downside break below the $0.20 support, the price could decline further. In the stated case, the price might slide toward the $0.1880 level or even $0.1820 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 – $0.2000 and $0.1880.

Major Resistance Levels – $0.2160 and $0.2280.