Dogecoin Price Slips Below Key Support, Signals Deeper Bearish Trend

Dogecoin (DOGE) has officially entered a critical breakdown phase as it loses grip on major support levels, indicating a potential prolonged bearish cycle. Currently trading around $0.164, DOGE has broken below the key $0.183 support zone, a historically important level that previously triggered bullish rallies. This breach marks more than a temporary dip—it highlights a structural weakness in the meme coin’s price action.

DOGE’s price pattern has formed consistent lower highs and lower lows, reinforcing a bearish market structure. Repeated failures to climb above the 26-day Exponential Moving Average (EMA) have cemented downward momentum. Major moving averages, including the 50, 100, and 200 EMA, are sloping downward, reflecting a strong bearish trend.

Volume analysis shows intensified selling pressure with each downward move, further dimming hopes for a quick rebound. The Relative Strength Index (RSI) nears oversold territory, but market sentiment remains risk-off, limiting the chances of a relief rally.

If Dogecoin fails to hold above $0.15, the next potential drop could be toward $0.12, a level not seen since late 2023. The $0.183 zone, once a psychological and technical support, now acts as strong resistance, signaling a shift in market sentiment and investor confidence.

Unless a strong catalyst reignites buying interest, DOGE appears set for further losses. Traders and investors should brace for continued volatility, as bearish momentum continues to build in the absence of bullish triggers.