Dogecoin Teeters at $0.1561 as Bears Pounce—Will the Meme Coin Hold?
Dogecoin traders are sweating as the price hovers near the critical $0.1561 stop-loss level. Market sentiment flips bearish—just another day in crypto's rollercoaster circus.
Watch that $0.1561 line like a hawk. Break below, and the 'to the moon' crowd might need a parachute. Meanwhile, Wall Street shrugs and sips its latte—because nothing says 'serious asset class' like a Shiba Inu-themed coin fighting for survival.
- Dogecoin (DOGE) sees a sharp 7.05% daily drop, now trading at $0.1755 amid mounting bearish pressure.
- Despite declining prices, wrapped DOGE (cbDOGE) adoption on Coinbase’s Base network points to growing DeFi integration.
- Analysts warn of continued downside risk, but oversold indicators suggest a technical rebound may be near.
Dogecoin (DOGE) is currently under significant market stress, trading at $0.1755, down 7.05% in the past 24 hours, with a 14.35% decline over the last week. While trading volume has spiked to $1.99 billion, up 150.27%, the increase is largely attributed to heightened selling activity, not renewed investor confidence.
Technical signals paint a grim picture: a deeply oversold RSI of 6.02, a strong ADX of 60.3, and a widening Bollinger Band Width suggest volatility remains high and downward momentum dominant. A negative MACD crossover and an unfavorable DMI ratio (45.8 bearish vs 11.4 bullish) confirm intensified selling pressure.
Analysts highlited that the $0.1665 support level as pivotal. A break below it could trigger a drop toward $0.1570, while a sustained MOVE above $0.1781 may offer the first signs of recovery. Traders are advised to adopt small, risk-managed positions, with stops below $0.1561 and limited exposure per trade.
Coinbase launches cbdoge on base network
While the sentiment in the short-term seems to be bearish, longer-term developments within the Dogecoin ecosystem could potentially throw it a lifeline. Coinbase has launched cbDOGE, a wrapped version of DOGE that works on its Base layer-2 network. This integration brings Dogecoin into the booming decentralized finance (DeFi) sector.
Wrapped Doge lets holders participate in DeFi activities like staking, lending, and providing liquidity while remaining exposed to their original DOGE assets. With cbDOGE already approaching a $2 million market cap within its first day, there seems to be solid market interest.
This expansion is reminiscent of earlier successes such as Wrapped Bitcoin (wBTC) and underscores Coinbase’s strategy to connect traditional cryptocurrencies with Ethereum-based decentralized finance ecosystems. This will, in turn, enhance the utility of DOGE besides its long-term relevance beyond its meme-based origins.
Dogecoin price predictions for 2025
People have different opinions on the future price of Dogecoin. According to Changelly, in 2025 the price of dogecoin will be in the range between $0.198 and $0.220 with an average price of $0.241. However, DigitalCoinPrice is much more optimistic as it suggests that the price can go up to $0.38 and might even surpass its all-time high price which was $0.74.
The price can go down a little more in the immediate, but since it is tremendously oversold at the moment, Dogecoin should be able to recover shortly. In the longer run, being part of bigger and faster DeFi networks like Base could help Dogecoin bounce back and remain relevant in the evolving crypto space.
