Dogecoin (DOGE) at a Crossroads: The Make-or-Break Support Level Traders Are Watching

Dogecoin's price teeters on the edge—again. Will this meme coin defy gravity or faceplant into oblivion?

The Line in the Sand

DOGE bulls cling to a critical support level like Wall Street clings to outdated Fed narratives. Lose this foothold, and the descent could get ugly.

Market Mechanics at Play

Liquidity pools cluster around this price zone like crypto bros at a free open bar. Break below? Expect stop-loss avalanches. Hold? Shorts get squeezed harder than a Lehman Brothers risk manager.

Sentiment vs. Reality

Retail traders still meme-ing, whales still manipulating—some things never change. The only surprise? How seriously people still take a joke currency with a Shiba Inu mascot.

One thing's certain: When DOGE moves, it doesn't do subtle. Buckle up.

TLDR

• DOGE dropped 7.5% to $0.164 due to geopolitical tensions and central bank policy
• Technical analyst forecasts 260% rally to $0.6533 target based on higher lows pattern
• Trading volume peaked at 700 million during the selloff before price stabilized
• Support formed at $0.164 level creating potential double bottom pattern
• Long-term price target of $1.25 represents over 600% gain from current levels

Dogecoin faced sharp selling pressure on Tuesday, dropping as much as 7.5% in 24 hours as global markets reacted to escalating geopolitical tensions. The memecoin slid from $0.176 to $0.164 before finding support.

The decline came as tensions between Israel and Iran escalated over the weekend. This prompted a swift risk-off reaction across global financial markets.

Cryptocurrency markets were not immune to the broader selloff. High-beta assets like Dogecoin bore the brunt of the selling pressure.

The Federal Reserve’s monetary policy stance also weighed on digital assets. The central bank is expected to maintain interest rates at 4.25% to 4.50% while continuing to unwind its balance sheet.

These macroeconomic headwinds created challenging conditions for altcoins. dogecoin experienced particularly heavy selling during the 15:00 to 16:00 trading window.

Nearly 700 million Doge units changed hands during this period. The intense selling pushed the price below key technical support levels.

However, buyers stepped in at the $0.164 level. This buying interest helped stabilize the price and prevented further downside.

The support at $0.164 created what some analysts view as a potential double bottom pattern. This technical formation could serve as a base for future consolidation.

Technical Pattern Remains Intact

Despite the recent selling pressure, technical analyst Javon Marks maintains a bullish outlook for Dogecoin. He points to a structure of higher lows that confirms steady upward pressure.

$DOGE (Dogecoin)'s prices are CONTINUING TO HOLD A BULLISH PATTERN & BREAKOUT and a MASSIVE MOVE TOWARDS $0.6533 can take place in result!

As prices continue to hold Higher Lows, this hints that Dogecoin is still in an uptrend and as the breakout holds, this gives a target where… https://t.co/yy7NsrbuXi pic.twitter.com/vNyO2ej0ZI

— JAVON⚡️MARKS (@JavonTM1) June 18, 2025

Marks believes the recent price action fits within a larger continuation trend. The analyst sees the current decline as part of normal consolidation before potential gains.

The breakout from previous consolidation levels remains intact according to his analysis. This technical setup could serve as a foundation for future price advances.

Marks has identified a near-term target of $0.6533 for Dogecoin. This level represents a potential 260% increase from the current price of around $0.171.

The projection is based on historical price behavior patterns. Previous consolidations in Dogecoin have often led to extended rallies when the technical structure held.

Beyond the immediate target, Marks sees potential for even larger gains. His long-term objective sits at $1.25, which WOULD represent over 600% growth from current levels.

Current Market Dynamics

Following the initial selloff, Dogecoin has traded in a range between $0.168 and $0.171. The price found stability above the $0.170 level during late-session trading.

A bullish push occurred at 01:21, sending DOGE to $0.1719. However, this advance was quickly rejected by sellers.

Since then, the price action has formed a descending triangle pattern. Lower highs are forming against relatively flat support levels.

The descending triangle shows resistance at $0.171 with support holding at $0.1705. This pattern suggests continued consolidation in the NEAR term.

Trading volume declined sharply after the initial selloff. Most recent trading candles show volume under 3 million, indicating reduced market participation.

The lower volume environment suggests traders are waiting for clearer directional signals. Market participants appear hesitant to make large positions given current uncertainty.

Data from CoinGecko shows Dogecoin trading at $0.1712 as of the latest update. This represents a 1.60% decline over the past 24 hours and a 13.36% drop over the past week.