Dogecoin at Crucial Support: Will DOGE Rebound or Drop Further?

Dogecoin (DOGE) is at a critical juncture, with analysts closely watching the $0.16 support level to determine its next big move. According to crypto analyst Ali, if DOGE holds above $0.16, a breakout rally could send it soaring to $0.57. However, failure to maintain this key level could trigger a steep decline toward $0.06.

At the time of writing, Dogecoin trades at $0.1575, down 8.52% in the last 24 hours. The price dip reflects broader market weakness, as Bitcoin and other cryptocurrencies face selling pressure. Equity markets are also sliding, with the S&P 500 bracing for its worst day since September 2022. Major crypto-related stocks like Coinbase and MicroStrategy have each dropped more than 7%.

Dogecoin recently lost the critical $0.20 level, further intensifying bearish sentiment. If buyers manage to push the price above $0.16, DOGE could climb to $0.21, a key resistance zone. Breaking this could open the path to $0.24 and $0.29. But if sellers keep control and DOGE closes below $0.14, the price could fall further to $0.10—or even $0.06.

With $1.19 billion in DOGE traded in just 24 hours and growing volatility, market participants are watching closely. Whether Dogecoin rebounds or breaks down will likely be decided in the coming sessions, making this a make-or-break moment for the popular meme coin.