- Dogecoin is struggling at $0.15, and if it breaks below $0.15, a drop to $0.12 seems likely in the coming days.
- Dogecoin is down 8.43% in 24 hours and 38.42% this month, with a bearish trend despite signs of a possible reversal.
Dogecoin (DOGE) has been experiencing a period of volatility, currently trading at $0.1594 as of March 11, 2025. The memecoin has struggled to maintain its bullish momentum, witnessing an 8.43% decline in the last 24 hours and a 38.42% drop over the past month.
At the time of writing, DOGE is priced at $0.1585 with a market cap of $23.53 billion. Despite this, the memecoin’s daily trading volume remains high at $2.63 billion (31.59% up), that indicating strong market activity, but with a more dominant bearish sentiment.
Zooming in over the past week, DOGE reached a high of $0.2184 before dropping to today’s low of $0.1453, reflecting a 24.09% decline from the intraday high of $0.1803. This steep decline comes due to the broader market correction led by Bitcoin (BTC) affecting multiple altcoins, including ETH, SOL as well as XRP.
DOGE Bullish Signal Faces Uncertainty Amid Weak Market Sentiment
The price chart on the weekly time frame shows a bullish engulfing pattern, which typically signals a reversal to the upside. Still this pattern is forming against a backdrop of overall weak market sentiment, making the strength of the bullish signal uncertain.
A key concern for investors is whether Dogecoin could drop to $0.12 or even to $0.10 in the next few days. Short-term projections indicate a gradual downward movement rather than a sharp crash. The expected price for the upcoming days is $0.14417, followed by $0.13906 and $0.12776. These predictions suggest a slow decline but do not support an immediate plunge to $0.1209.
One of the biggest factors contributing to DOGE’s price decline is a sharp reduction in whale transactions, which have dropped by 88% in recent weeks. This signals a lack of confidence from large investors, leading to lower liquidity and weaker buying pressure. Additionally, while speculation about a Dogecoin ETF has been circulating, it has not yet translated into significant price gains.
Dogecoin Price Analysis: Signals Bearish Pressure with Possible Reversal
On the 4-hour DOGE/USDT chart, Dogecoin appears to be following a Descending Channel pattern, suggesting a continuation of the downtrend unless a breakout occurs, which could signal a reversal. Also, in the BBPT, Bull Power at 1.76 and Bear Power at 8.5, the bear trend is stronger than the bull trend.
The current market trend leans toward further consolidation, with a potential retest of the $0.14 support level in the coming days. If Dogecoin fails to hold above this critical support, a drop below $0.13 could increase selling pressure, which making $0.12 a more realistic target over the next couple of weeks. To validate this, DOGE’s CMF at -0.03 indicates mild selling pressure, suggesting weak accumulation and a neutral to slightly bearish market sentiment.
On the other hand, Dogecoin’s RSI at 30.43 shows it’s getting close to the oversold zone, meaning a bounce or reversal could happen if buying pressure increases. If the market calms down and DOGE gets fresh interest, it might hold steady around $0.16-$0.18 before making another breakout attempt.
Highlighted Crypto News
