Dogecoin Faces Key Test at $0.22 as Market Struggles to Gain Momentum

Dogecoin (DOGE) is hovering around the critical $0.22 support level, struggling to gain bullish momentum after a prolonged downtrend. The meme coin has been unable to break key resistance levels, maintaining a bearish structure amid ongoing market uncertainty.

This $0.22 level has historically acted as a strong support zone, preventing further declines. However, repeated tests tend to weaken support, increasing the risk of a breakdown. If DOGE fails to hold above $0.22, selling pressure could accelerate, pushing the price toward the next major support at $0.18.

Conversely, if bulls manage to defend this level, a recovery toward $0.25–$0.26, where the 50-day EMA is positioned, could be possible. A breakout above this range may lead to further gains toward $0.28, but a surge in buying pressure—currently lacking—is essential for any sustained rally.

A drop below $0.22 would signal increased bearish momentum, potentially leading to a sharper decline. Given DOGE's recent struggles, traders should closely monitor its price action in the coming days. Whether it rebounds or dips lower, this key support level will likely determine its next major move.