Dogecoin Faces Critical Support Breakdown: Is a Bigger Drop Ahead?

Dogecoin's price is on a steady downward trajectory, now testing a crucial support level at $0.14. This marks the final key support in its recent price action, and a break below could lead to further losses.

DOGE has struggled to sustain any upward momentum, failing to hold previous support levels. After briefly stabilizing around $0.22, it dropped to $0.18 before hitting the current $0.14 support. The continued bearish pressure suggests further downside risks.

Adding to concerns is the looming death cross, a bearish technical signal where the 50-day moving average falls below the 200-day moving average. This pattern often triggers increased selling pressure, potentially pushing DOGE into the $0.10-$0.12 range.

Market sentiment remains weak, with no major catalysts to drive speculative interest. Unlike previous cycles where hype fueled price recoveries, the current meme coin market lacks enthusiasm, leaving DOGE vulnerable to further declines.

If the $0.14 support fails, DOGE holders could face more downside. With bearish momentum persisting, traders are closely watching for any signs of reversal.