Dogecoin is in free fall; those trying to bottom-fish are slower than the falling knife.

News analysis

Musk's silence effect: Tesla no longer accepts DOGE payments, and founder Elon Musk has not publicly mentioned or supported DOGE in the past six months, causing the core driving force of meme coin speculation to extinguish.

Regulatory clouds loom: The U.S. SEC has clearly listed meme coins, including DOGE, as key monitoring targets, intensifying market concerns over policy risks, leading to the withdrawal of some speculative funds.

Whales continue to offload: On-chain data clearly shows that the top ten DOGE holding addresses have cumulatively reduced their holdings by more than 240 million DOGE this week, worth about $4.3 million, creating substantial selling pressure.

Technical analysis: bearish dominance
Based on the latest 4-hour K-line chart (current price about 0.17806):

Bollinger band trend: The Bollinger band shows a clear downward opening pattern, with the upper band at 0.22000 and the lower band near 0.17803. Prices continue to run closely along the lower band and are far below the middle band at 0.20000, confirming a strong downward trend and a short-term lack of decent rebound.

MACD signal: The MACD indicator's dual lines (DIF -0.00548, DEA -0.00451) are both below the zero axis, and the DIF is running below the DEA, forming a death cross. The MACD histogram (-0.00193) continues to extend in the green negative value area, indicating that the downward momentum is still strengthening, forming a bearish-dominated 'air refueling' pattern.

Key price level:

Strong resistance above: 0.18000 area (Bollinger middle track and psychological barrier overlap).

Death line below: Current K-line low point is 0.17753. If it effectively breaks below, it will open up space toward the recent low of 0.16778 or even lower. The historical high point of 0.23206 has become an unattainable resistance.

Operation summary: go with the trend.

Direction: bearish outlook based on technical and news resonance, overall trend downward.

Strategy:

Avoid blindly bottom-fishing at the current price.

Consider lightly positioning short orders when the price rebounds close to around 0.1795.

Strictly set stop loss above 0.1805.

If the price effectively breaks below the support at 0.17753, you can follow the trend and short, with a target towards 0.17200, and even the previous low area of 0.16778.

Beware: closely monitor the potential market volatility risk due to options/leverage expiration on June 7.


The dog leash is broken, and the bears are walking the dog. Tonight, closely monitor the death line at 0.17753; once effectively broken, the dog leash will rapidly slide toward the abyss of 0.167. Pay attention to risk control, buckle up, and follow me for real-time cutting-edge information.$DOGE #DOGE