Dogecoin Faces 4.17% Decline Amid Bearish Momentum

Dogecoin (DOGE) is currently experiencing a period of uncertainty as it navigates through a consistent weekly downtrend. The memecoin has faced multiple rejections near key resistance levels of $0.22 and $0.20, leading to a sustained bearish momentum. Analysts are closely monitoring the formation of a potential double bottom near the $0.13 region, which could signal a shift in the current bearish structure.

Recent price movements have shown a surge in daily volume, indicating growing investor attention as DOGE hovers near critical support levels. The coin is currently priced at $0.1793, reflecting a 4.17% decline in the last 24 hours and a 1.50% loss over the past seven days. The daily range between $0.1713 and $0.1899 highlights the high intraday volatility that DOGE is experiencing.

According to Cantonese Cat, the weekly downtrend began after DOGE peaked in early 2025. The pattern is characterized by lower highs and lower lows, with the current price testing the lower Bollinger Band near $0.17. A sharp rejection from the mid-Bollinger Band around $0.20 earlier this month reinforced this trend, showing continued seller control. The analyst’s chart suggests that a double bottom forming near the $0.13 region could be a crucial indicator of a potential reversal. If DOGE breaks above the $0.20 range, it could confirm the reversal and drive a move higher. Until then, risks remain to the downside.

BitGuru noted that DOGE failed to sustain momentum after a short recovery, with rejections at $0.22588 and $0.20696 reinforcing the ceiling. The coin is now retesting a long-standing support zone around $0.17000, which could determine whether bulls can defend current levels. The support near $0.17 remains a make-or-break level. A breakdown could push prices toward the $0.13 zone, while a breakout above $0.20 could mark the start of a recovery. Market watchers will continue to monitor price behavior closely for confirmation of any shift.