Dogecoin DOGE has fallen by 4.3% in the past 24 hours, dropping from $0.196 to $0.189 as take profit activity continues across many major coins.
The meme-inspired token has fallen below the important support level of $0.194 during a strong sell-off from 11:00 to 14:00, establishing a new resistance area while temporarily bottoming out at $0.187.
News context
The price of Dogecoin is facing difficulties amid the changing landscape of the meme coin industry, and the general trend among investors is to use stablecoins or bitcoin. Recent transfers by whales have moved a significant amount of DOGE to major exchanges, raising speculation about a potential sell-off or accumulation phase. On a broader scale, geopolitical tensions and concerns about inflation continue to affect investor sentiment on risk assets, with the cryptocurrency market being particularly sensitive to changes in global trade policy. These unfavorable macroeconomic factors are putting DOGE on the defensive as traders look for signs of a sustainable reversal.
Price action
According to the technical analysis model of CoinDesk Research, the price of DOGE is currently stabilizing in the range of $0.188 to $0.190, with some technical indicators suggesting that sellers may exhaust themselves after a large volume sell-off at $0.187.
Analysts are watching the descending triangle pattern form on the chart, as its resolution may determine DOGE's next move.
While some traders have noted a series of higher lows after DOGE reached $0.188 around 01:50, all recovery efforts so far have lacked conviction. The inability of the token to reclaim the $0.19 level underscores the market's persistent caution, especially as broader risk assets face pressure from ongoing trade disputes and inflation concerns.
Technical analysis summary
DOGE has fallen 4.3% from $0.196 to $0.189 in the last 24 hours, with a price range of $0.010 (5.1%).The critical support level at $0.194 has been broken with above-average trading volume, establishing a new resistance zone.A temporary bottom formed at $0.187 at 20:00, with the highest trading volume of the day at 223 million, indicating the possibility that sellers are exhausted. DOGE consolidates between the $0.188 and $0.190 levels, indicating a weak recovery effort. A small bull run occurred between 02:00 and 02:01, when DOGE increased by 0.18% with increased trading volume. The lower level formed after 01:50 indicates some short-term bullish sentiment, but the broader bearish momentum continues.
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Dogecoin is struggling to regain the $0.19 level as pessimistic sentiment continues.
Dogecoin DOGE has fallen by 4.3% in the past 24 hours, dropping from $0.196 to $0.189 as take profit activity continues across many major coins. The meme-inspired token has fallen below the important support level of $0.194 during a strong sell-off from 11:00 to 14:00, establishing a new resistance area while temporarily bottoming out at $0.187. News context The price of Dogecoin is facing difficulties amid the changing landscape of the meme coin industry, and the general trend among investors is to use stablecoins or bitcoin. Recent transfers by whales have moved a significant amount of DOGE to major exchanges, raising speculation about a potential sell-off or accumulation phase. On a broader scale, geopolitical tensions and concerns about inflation continue to affect investor sentiment on risk assets, with the cryptocurrency market being particularly sensitive to changes in global trade policy. These unfavorable macroeconomic factors are putting DOGE on the defensive as traders look for signs of a sustainable reversal. Price action According to the technical analysis model of CoinDesk Research, the price of DOGE is currently stabilizing in the range of $0.188 to $0.190, with some technical indicators suggesting that sellers may exhaust themselves after a large volume sell-off at $0.187. Analysts are watching the descending triangle pattern form on the chart, as its resolution may determine DOGE's next move. While some traders have noted a series of higher lows after DOGE reached $0.188 around 01:50, all recovery efforts so far have lacked conviction. The inability of the token to reclaim the $0.19 level underscores the market's persistent caution, especially as broader risk assets face pressure from ongoing trade disputes and inflation concerns. Technical analysis summary DOGE has fallen 4.3% from $0.196 to $0.189 in the last 24 hours, with a price range of $0.010 (5.1%).The critical support level at $0.194 has been broken with above-average trading volume, establishing a new resistance zone.A temporary bottom formed at $0.187 at 20:00, with the highest trading volume of the day at 223 million, indicating the possibility that sellers are exhausted. DOGE consolidates between the $0.188 and $0.190 levels, indicating a weak recovery effort. A small bull run occurred between 02:00 and 02:01, when DOGE increased by 0.18% with increased trading volume. The lower level formed after 01:50 indicates some short-term bullish sentiment, but the broader bearish momentum continues.