Dogecoin Plummets Again: Is the DOGE Rally Officially Dead?

Dogecoin's latest nosedive sparks panic among meme coin enthusiasts as the digital asset continues its downward spiral.

Technical Breakdown

The cryptocurrency's failure to maintain momentum suggests deeper structural issues beyond typical market volatility. Trading volumes dried up faster than a desert creek during a drought.

Market Sentiment Shift

Retail investors who piled in during the hype cycle now face the classic crypto reality check—what goes up on memes often comes down on fundamentals. The so-called 'people's currency' suddenly feels more like everybody's problem.

Regulatory Headwinds

Increased scrutiny from financial authorities worldwide adds another layer of pressure. Because nothing says 'stable investment' like an asset whose value hinges on Twitter jokes and celebrity endorsements.

Future Outlook

While die-hard supporters cling to hope, the smart money already moved on to the next shiny object. In crypto, today's rally is tomorrow's rug pull—and Doge might just be learning that lesson the hard way.

Dogecoin price technical analysis 

The weekly chart suggests that the recent dogecoin price rally could be ending. It has formed a symmetrical triangle pattern whose upper and lower sides connect the key levels since February this year.

DOGE has formed a bearish pennant pattern, which is made up of a vertical line and a symmetrical triangle. In most cases, a bearish breakout happens when the two triangle lines are nearing their confluence.

Dogecoin price remains below the 50-week and 100-week Exponential Moving Averages, a sign that bears are in control.

Therefore, the Dogecoin price will likely have a strong bearish breakout, potentially to the key support level at $0.1360, its lowest level in March this year.