Dogecoin's Bearish Battle: Can It Reach $1 by 2025?

Dogecoin Faces Bearish Pressure! Can It Still Hit $1 in 2025?

Elena is an expert in technical analysis and risk management in the cryptocurrency market. She has 10+ years of experience in writing and is an avid journalist with a passion for researching new insights in the crypto world. Dogecoin, the popular memecoin, is currently facing bearish pressure, with its price dropping by approximately 2% and trading volume reaching $2.886 billion. Technical indicators such as the Simple Moving Average (SMA) and the Moving Average Convergence Divergence (MACD) suggest an intensified bearish action, indicating a negative outlook for the memecoin. The resistance and support trend levels are currently at $0.325 and $0.0207, respectively.

The cryptocurrency market has displayed increased uncertainty over the last few days, with the memecoin market recording the highest price action. Investors are curious about whether this is a good time to invest in Dogecoin and if another potential crypto crash is imminent. In this article, we will explore the market sentiments and provide a possible short-term Dogecoin price analysis.

DOGE Meme Coin Holds Its Important Support Of $0.265!

The price of Dogecoin has dropped by approximately 1% in 24 hours, with a trading volume of $2.886 billion, a change of -53.36%. Additionally, it has lost 18.24% over the last seven days and 30.81% in the last 30 days. With a market cap of $39.63 billion, it has secured the 8th position in the market.

TradingView: DOGE/USDT

The Moving Average Convergence Divergence (MACD) records a constant decline in the red histogram with its averages recording a similar price action in the daily time frame. This highlights an increase in the selling-over-buying pressure for the largest memecoin in the market. On the other hand, the SMA indicator continues acting as a resistance to the Dogecoin price chart, suggesting that the meme coin may continue losing value in the upcoming time.

Will DOGE Price Ever Recover?

Maintaining the price