Dogecoin News Today: Is DOGE Facing a 90% Drop After the Death Cross or Poised for a Surge from $0.22?
- Dogecoin (DOGE) has fallen 36% from its September peak to $0.1981, with technical indicators signaling a potential death cross and prolonged bearish momentum. - Whale selling of 2 billion DOGE ($400M) and weak ETF performance highlight structural challenges, as DOGE's 1.5% expense ratio deters investors compared to XRP's stronger adoption. - Analysts warn of a possible 90% drop to $0.0052 if support breaks, though a rebound above $0.22 could trigger a 53% recovery to $0.31 amid heightened market volatili
Dogecoin at a Crossroads: After Plunging 36%, Is There More Downside Ahead?
Dogecoin (DOGE) has tumbled 36% from its September peak and is currently trading at $0.1981, raising investor fears of further declines. Technical analysis points to sustained bearish momentum, with DOGE approaching crucial support zones and possibly forming a death cross—a bearish indicator where the 50-day exponential moving average (EMA) falls below the 200-day EMA, as highlighted in a
The weekly chart displays a bearish flag, with prices dropping between $0.4838 and $0.1295, indicating increased risk. Large holders have intensified selling, unloading 2 billion DOGE—valued at over $400 million—within two days, as reported by
Launched in September with $30.7 million in assets, the DOGE ETF has experienced flat inflows, falling short of the $100 million-plus seen by its
Technical experts point to the impending death cross as a pivotal event. Although such signals lag behind price action, they often reinforce negative sentiment, particularly in a market that has already lost 65% since December’s $0.48 high, as per a
Despite the bleak outlook, some analysts believe oversold conditions could attract value-seeking buyers. DOGE is hovering near $0.20, with support at $0.19 and resistance at $0.22, BeInCrypto noted. A move above $0.22 could shift momentum upward, targeting $0.26 and potentially $0.31—a 53% recovery. However, failing to maintain key support could lead to an extended decline.
The SEC’s recent approval of broad listing rules has sped up crypto ETF launches, but DOGE’s weak performance highlights ongoing challenges. While XRP and DOGE ETFs saw $54.7 million in combined opening volume, a
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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