The price of Dogecoin (DOGE) has dipped below $0.20 amid growing bearish pressure, leading analysts to warn of a potential slide towards $0.10. Observations indicate that large Dogecoin holders are quietly offloading their assets, raising concerns about the cryptocurrency’s immediate future.
Recent Price Decline
The beloved meme coin, Dogecoin (DOGE), is facing renewed selling pressure as it dropped below the crucial $0.20 threshold. This decline has sparked apprehension among traders about the sustainability of its recent bullish trend. Despite attempts to recover in recent months, the coin plummeted over 15% last week, coinciding with a broader market uncertainty and dwindling investor confidence.
As of June 18, Dogecoin was trading between $0.16 and $0.17, having slipped from a brief high earlier in the year. This downturn has triggered bearish predictions and renewed scrutiny from market analysts.
Bears Dominate Market Sentiment
The recent price activity of Dogecoin has been characterized by a prevailing bearish sentiment, exacerbated by geopolitical tensions and a shift in the overall risk appetite of cryptocurrency investors. While meme coins are often volatile, the swift decline has raised questions about the strength of DOGE’s long-term support levels, especially as it hovers around the $0.16 to $0.17 range.
Technical indicators now reflect a pressured market, with the Moving Average Convergence Divergence (MACD) signaling a sell, and the token trading below its 50-day moving average. Additionally, the emergence of a bearish flag pattern on key charts has fueled speculation that the coin could revisit lows last seen before the 2024 rally.
Whales Moving Assets
In the midst of declining prices, major Dogecoin holders have started reallocating their assets towards emerging alternatives, indicating a strategic exit from what some now consider a declining trend. Blockchain analysis reveals that long-term wallets holding DOGE have reduced their balances by nearly 0.88% within just 24 hours, suggesting growing unease among previously confident “diamond hands”.
Mixed Analyst Predictions
While the prevailing sentiment appears to lean bearish, not all experts agree that Dogecoin is on the path to obscurity. Popular chartist Javon Marks believes the token still holds a bullish breakout pattern, maintaining higher lows that could pave the way for a significant rally.
$DOGE (Dogecoin)’s prices are CONTINUING TO HOLD A BULLISH PATTERN & BREAKOUT and a MASSIVE MOVE TOWARDS $0.6533 can take place in result!
As prices continue to hold Higher Lows, this hints that Dogecoin is still in an uptrend and as the breakout holds, this gives a target where… https://t.co/yy7NsrbuXi pic.twitter.com/vNyO2ej0ZI
— JAVON⚡️MARKS (@JavonTM1) June 18, 2025
According to Marks, if this trend continues, Dogecoin could rise to $0.6533, representing a potential gain of nearly 280% from current prices, and might even reach $1.25 in an extended rally. Supporting this perspective, another trader known as Trader Tardigrade has identified a descending wedge pattern on the DOGE 4-hour chart, often associated with bullish reversals.
#Dogecoin has formed a Falling Wedge, pointing onto a swing low support 🔥
The downward momentum has gradually decreased as it nears the wedge’s apex.$Doge/H4 pic.twitter.com/cYIZLSKnK8— Trader Tardigrade (@TATrader_Alan) June 17, 2025
Despite this optimism, overall market sentiment within the broader cryptocurrency landscape remains cautious, with 87% of analysts currently bearish on Dogecoin’s short-term outlook. Furthermore, recent comments from Elon Musk denying any government adoption of DOGE have deflated some speculative hopes that had previously supported the coin’s price.
Dogecoin Price Forecast: Is $0.10 on the Horizon?
While Dogecoin is not in freefall yet, pressure on support levels is mounting, raising questions about whether a decline to $0.10 is now a realistic scenario. Analysts warn that if DOGE fails to maintain the $0.16 threshold, a swift drop to $0.14 and possibly even to $0.10 could be triggered by algorithmic trading and panic selling.
A fall to this level would mark a dramatic reversal from the coin’s peak of $0.47 in November 2024, further fueling fears that the era of meme coins may be losing its appeal. Nevertheless, volatility is not new for Dogecoin, and past downturns have sometimes led to surprising recoveries driven by viral support and sudden market fluctuations.
For now, all eyes remain on the charts as traders brace for what could be a pivotal moment in Dogecoin’s tumultuous journey.
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