Dogecoin Price Analysis: DOGE Eyes Rebound After Multi-Year Trendline Break Tests $0.15 Floor

Dogecoin's price has recently dropped by 5% to $0.1534, breaking critical support levels after institutional selling pressure increased. This decline coincided with accelerated technical deterioration, leaving a significant support level at $0.1520 that must hold to prevent further declines. Notably, despite the price drop, whale investors accumulated 4.72 billion DOGE, indicating potential volatility ahead. As technical indicators weaken, a double bottom is forming at around $0.155, supported by a bullish RSI divergence. For DOGE to stabilize, it is crucial to reclaim the $0.159–$0.160 range; failure to maintain $0.1520 could lead to a fall towards $0.150 and subsequently to $0.120. Overall, the market reaction is largely influenced by broader macro weaknesses, and traders are closely monitoring these support and resistance levels in this evolving landscape.

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