Dogecoin Drops 2% In 24 Hours, Faces Further Decline

Dogecoin (DOGE) is currently under scrutiny as it struggles to maintain its position above critical support levels. With both daily and hourly charts indicating caution, traders are questioning whether DOGE is on the brink of a further crash or nearing a reversal zone. The current price of DOGE is around $0.153, reflecting a nearly 2% dip in the last 24 hours. This decline is part of a multi-week downtrend that has pushed Dogecoin into a compression zone, evident on both daily and hourly timeframes.

On the daily chart, DOGE is trading below all major moving averages, including the 20, 50, 100, and 200 Simple Moving Averages (SMA), indicating a full bearish alignment. The 200-day SMA, positioned at approximately $0.26, highlights the significant decline from February. Volume is decreasing, and the Accumulation/Distribution Line (ADL) has stagnated, suggesting a lack of inflow.

The hourly chart presents a similar picture. DOGE is repeatedly being rejected from the 20-hour and 50-hour moving averages, with no convincing bounce. This indicates that short-term selling pressure is dominant, and bullish momentum has yet to build. The trend on the daily chart is strongly downwards, with no higher highs. The price is below all SMAs, a classic bearish setup. The ADL is flatlining, indicating weak accumulation. The current price sits just above $0.150, a psychological and historical support level. Resistance levels are at $0.162 (20-day SMA) and $0.176 (50-day SMA).

Unless DOGE reclaims the 20-day SMA, any rally is likely to be short-lived. A close below $0.150 could expose $0.138 or even $0.125 in the coming weeks. On the hourly chart, the short-term trend shows lower highs and lower lows, with weak bounce attempts. The SMA ribbon is tightly packed and sloping downward, confirming downward momentum. Immediate resistance is at $0.155 (20-HMA), and immediate support is at the $0.150 psychological line. If bulls fail to defend $0.150, a flush toward $0.145–$0.142 could occur, especially if volume spikes on the downside.

Despite the bearish technicals, macro cycles and altcoin rotation trends suggest that Dogecoin could see a rebound once Bitcoin stabilizes or rallies again. For a bullish reversal, DOGE needs a clear breakout above $0.165, reclaiming the 20 and 50 SMAs, a pickup in on-chain volume and ADL slope, and a fundamental catalyst such as a tweet from Elon Musk or a memecoin hype wave. Until then, DOGE remains in a chop zone with a downside bias.

Dogecoin price is holding onto a thin thread at $0.150. If bulls want to take control, they need a breakout above $0.165 quickly. Until then, expect more downside or sideways movement. The short-term risk is high, with an upside target of $0.165 – $0.176 and a downside risk of $0.145 – $0.138. The long-term outlook for 2025 is neutral to bullish, depending on the revival of the memecoin sector.

Scalp traders should watch for bounce setups near $0.150 with tight stop-loss. Swing traders should avoid entering until the price breaks $0.165 and holds. HODLers should accumulate only if DOGE reclaims key moving averages and overall sentiment improves. Dogecoin’s current price action is textbook indecision. If broader crypto sentiment turns bullish, DOGE could become one of the fastest runners in the memecoin sector. However, until then, keep an eye on $0.150—it’s the level separating hope from breakdown.