Dogecoin bulls are facing a severe test. With the loss of a key price structure, new analysis warns: if the $0.10 support fails, DOGE may further drop to $0.062. This means that this globally known meme coin may see its price return to the 'two-digit' era.
📉 Monthly chart sounds the alarm: positive regression to the 2024 low
The price of Dogecoin is falling back to the lowest level area of 2024. This is all related to ongoing selling pressure — DOGE may drop towards $0.10, or even lower to $0.062. The latter is particularly concerning, as it not only represents a technical price level but also means that the price chart of Dogecoin will need to 'add another zero', which could fundamentally change the market's perception and expectations of this leading meme coin and the entire sector.
🧱 Key support lost, structure turned into resistance
The current weakness did not form in a day. Dogecoin previously failed to hold the critical range of $0.16-$0.18, which had been a solid support during previous upward trends. Once it fails, support turns into resistance, leading to increasingly brief and weak rebounds. This pattern typically indicates a distribution of chips rather than accumulation.
⚠️ The space below opens, beware of the 'no buffer' drop
The situation is severe because there is a lack of obvious buffer zones below the price. The chart shows that there is no strong support between the current price and $0.10. If the bulls hesitate or fail here again, the next structurally significant area will directly move down to around $0.062—this position is a historical area where Dogecoin had been trading flat for several months in 2022-2023.
🔍 Insights for investors
For short-term traders, it is necessary to be alert to any false rebounds in the market. For long-term holders, the risk is even more profound: if the $0.10 level ultimately fails, Dogecoin may transform from a cultural symbol into an outdated asset struggling to find value support in a brutal market.
Currently, what the chart conveys is not confidence, but a lack of buying power. The next price level worth paying attention to may be much lower than the current one.
Market conditions change rapidly, specific entry and exit points should be determined in real-time, and follow the trend once a breakout occurs! Regardless of how high the grasp is, please strictly execute the take-profit and stop-loss strategies! That's all for today! Follow me, and don't get lost!
