In the last 30 days, DOGE has dropped by about 9%. Even with the Federal Reserve lowering interest rates, market sentiment has not improved. What's more troubling is that the price has already fallen below an important support level, indicating that a downward trend is forming, no longer just short-term fluctuations.

Looking at the overall situation this year, things are even more severe. Dogecoin has accumulated a drop of over 58% this year, performing the worst among the top ten mainstream cryptocurrencies. The reason is very realistic: funds are fleeing meme coins and flowing into Bitcoin, XRP, and other currencies considered more stable. Meme coins like PEPE and BONK have fared even worse this year, indicating that the entire sector is cooling down.

Another not-so-good signal is that trading volume has increased, yet prices continue to decline. In the last 24 hours, DOGE trading volume has noticeably increased, but the price has actually dropped a bit. This usually indicates that someone is taking advantage of active trading to sell off rather than new capital entering the market to buy the dip.

From a technical perspective, analysts believe that Dogecoin may be forming a pattern that could lead to further declines. If confirmed, the price could drop to around $0.12.

Here are a few key price levels to remember:

$0.13: Short-term support; dropping below this level would be more dangerous.

$0.14: Must regain this level for the market to have room for improvement.

$0.16: Only breaking through here counts as a true reversal of the downward trend.

For newcomers, it is now more suitable to control their positions and observe patiently. Do not blindly increase positions due to short-term fluctuations. The cryptocurrency market is highly risky, so caution is essential.