DOGE Price News: Dogecoin Chart Turns Fully Bearish After Multi-Level Support Failure

Dogecoin has experienced significant decline, breaking critical support levels as it trades below the $0.15 mark. Technical indicators suggest that DOGE is deeply oversold, with trading below both its 50-day and 200-day moving averages, which hints at ongoing trend weakness. The cryptocurrency market is currently characterized by extreme fear, with Bitcoin dropping below $85,000, contributing to a total market cap loss of $120 billion in just 24 hours. Dogecoin's price fell from $0.1578 to $0.1401, a decline of 11.2%, characterized by high volume and multiple support failures. The market is reacting to substantial selling pressure, primarily driven by larger players in the market rather than retail investors. DOGE faces a crucial resistance point around $0.138, where further failures could lead to a quick plunge towards $0.135 and $0.128. Conversely, stabilizing around $0.140 could hint at potential recovery, although the overall sentiment remains fragile amidst a lack of whale accumulation. The volatility in the broader crypto market still significantly impacts DOGE's performance, indicating a challenging environment for recovery.

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