Dogecoin Drops 10% to $0.1695 as Bears Tighten Grip

Generated by AI AgentCoin World
Monday, Jun 16, 2025 1:21 am ET1min read
DOGE
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Dogecoin (DOGE) has experienced another decline, with bears tightening their grip on the meme coin. The cryptocurrency started a fresh descent from the $0.1880 zone against the US Dollar, failing to clear this level and subsequently dropping below $0.1800 and $0.1750. The bears pushed the price even lower, forming a low at $0.1695. Currently, DOGE is consolidating losses below the 23.6% Fib retracement level of the downward move from the $0.2064 swing high to the $0.1697 low.

DOGE is now trading below the $0.180 level and the 100-hourly simple moving average. A short-term bearish trend line is forming with resistance at $0.1760 on the hourly chart of the DOGE/USD pair. Immediate resistance on the upside is near the $0.1760 level, with the first major resistance for the bulls at $0.1785. The next major resistance is near the $0.180 level. A close above the $0.180 resistance might send the price toward the $0.1880 resistance, which is close to the 50% Fib retracement level of the downward move from the $0.2064 swing high to the $0.1697 low. Any further gains might push the price toward the $0.200 level, with the next major stop for the bulls at $0.2120.

If DOGE’s price fails to climb above the $0.180 level, it could start another decline. Initial support on the downside is near the $0.1720 level, with the next major support at $0.1700. The main support sits at $0.1680. If there is a downside break below the $0.1680 support, the price could decline further, potentially reaching the $0.1550 level or even $0.1525 in the near term.

Technical indicators show that the MACD for DOGE/USD is now losing momentum in the bearish zone, while the RSI for DOGE/USD is above the 50 level. Major support levels are at $0.1700 and $0.1680, with major resistance levels at $0.1760 and $0.1800. The current trend suggests that DOGE is in a consolidation phase, with bears maintaining control. However, if the price can break above the $0.180 level, it could signal a potential recovery for the meme coin.