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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