Dogecoin has breached a critical two-year ascending trendline, triggering a technical breakdown that points to potential losses of 20% to 35% from Monday’s price of $0.0722. The memecoin has already shed 6% over the past week and 75% since September, with its market cap now at $12.4 billion, ranking tenth among cryptocurrencies and sitting 90% below its May 2021 peak.
The breakdown follows an April death cross on the weekly chart, where the 50-week EMA fell below the 200-week EMA. June’s decisive trendline break eliminated the support structure that held since July 2024, leaving minimal technical support until the 2022 bear-market low near $0.0480—roughly five cents per token.
Analysts who previously called bullish setups now acknowledge the prior structure no longer exists. Any meaningful recovery would require DOGE to reclaim resistance around $0.1434, nearly double current levels, before stabilizing.
FXnCO Insight
Traders should monitor the $0.056 level as the final defense before a full retest of 2022 lows near five cents.
Source: Finance Magnates