Dogecoin's price has broken below a key support level, signaling a potential trend reversal. Argentina's allowance of #Dogecoin taxation indicates its growing adoption. Despite the challenges, analysts remain bullish on Dogecoin's cup-and-go pattern, believing it has long-term potential. Dogecoin ($DOGE) is currently priced at $0.1401, and its recent break below a key support level has shifted market sentiment. The 0.59% price drop over the past 24 hours reflects this trend change. Analysts are revising their previous bullish expectations for Dogecoin, which had maintained a strong upward momentum until this break below the support level. AltCryptoGems market analyst Sjuul noted that multiple candlesticks closed below important support lines. The Dogecoin price chart shows a downtrend. Source: X. "The chart looked promising, but the recent break means it's almost impossible for Dogecoin to regain its upward momentum," Sjuul explained. Analysts are concerned that the break below the support level could signal a long-term downtrend, making a rapid rebound for Dogecoin more difficult. Despite recent declines, some analysts remain bullish on Dogecoin's long-term trend. Altcoin Piooners points out that Dogecoin has formed a cup and handle pattern on its three-week chart. This pattern is typically associated with bullish signals, especially over a longer period. Dogecoin is also forming an ascending triangle pattern. Source: X. According to Altcoin Piooners, Dogecoin is currently priced at $0.1401, above its long-term uptrend line. Analysts note that the consolidation phase of this pattern is complete, characterized by consistently higher lows and decreasing volume. While the price has dipped in the short term, Altcoin Piooners gives a target price between $0.72 and $0.88, and some analysts predict a potentially larger rebound, potentially reaching $4 to $6, depending on overall market conditions. Despite price volatility, Dogecoin's real-world applications continue to grow. In Argentina, the government has allowed citizens to use Dogecoin to pay some taxes. Positive news: Argentina has officially signed a law allowing citizens to use Dogecoin to pay taxes. December 5, 2025. This move reflects the growing trend of governments exploring the application of cryptocurrencies in everyday financial transactions. Furthermore, Alternative Airlines announced it will accept Dogecoin for flight bookings, further pushing the cryptocurrency into the mainstream market. These initiatives mark steady progress in Dogecoin's market penetration beyond speculative markets. Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not liable for any losses incurred as a result. Readers should conduct their own research before making any financial decisions.
This article, titled "DOGE Price Analysis: Dogecoin Support Breaks, Target Price $0.72," was originally published on the Coin Crypto Newz website.
