Dogecoin Risks Falling to $0.14 as Meme Coins Drop
Key Points:
Dogecoin is near $0.18 support and could fall to $0.14.The meme coin market is shrinking, now below $60 billion.Over $5 million in Dogecoin long trades were wiped out.
📉 Meme Coin Market Weakens
The crypto market is down.
Bitcoin fell below $105,000, and meme coins are dropping fast.
Dogecoin (DOGE) has dropped almost 4% in 24 hours.
Now, it’s close to a key support level at $0.18.
If DOGE falls below this level, it could crash to $0.14.
📊 Dogecoin Price Chart Breakdown
DOGE failed to break above $0.25, a strong resistance area.It’s now below the 200-day EMA and the 23.6% Fibonacci level near $0.21.It dropped 2.6% on Wednesday, hinting at more losses.
If DOGE can’t hold the $0.18 support, it may lose momentum and fall back to $0.14.
⚠️ RSI and Pattern Warning
DOGE’s RSI (Relative Strength Index) has dropped below the midpoint.This shows selling pressure is getting stronger.The cup-and-handle pattern (a bullish setup) is now in danger of failing.
If DOGE drops more, it may not recover quickly.
💣 Over $5 Million in Bullish Trades Liquidated
In the last 24 hours:
$5.19 million in long positions (bullish bets) were liquidated.Only $416k in short positions were lost.
This shows many traders bet on DOGE rising, but the price went down instead.
Open interest (total money in DOGE futures) also fell 1.42% to $2.07 billion, meaning fewer people are trading it right now.
But some hope remains:
Funding rates just bounced to 0.0080%, showing a small rise in bullish sentiment.
Dogecoin may fall lower if it breaks $0.18.
Traders should watch carefully for signs of a bounce or further drop.
Disclaimer: This article is for information only. It is not financial advice. Always do your own research before investing.
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