The price of Dogecoin has returned to a critical line, hovering around the key support level of $0.168, marking the second test since mid-April! If it fails to hold, the market may face a 30% crash, with both bulls and bears closely watching every move.
Monthly MACD death cross
Currently, Dogecoin (DOGE) has experienced the third 'death cross' in the monthly MACD, with the first two (2018, 2022) triggering bear markets lasting several months.
In 2018, the bearish MACD cross led to months of market cooling. In 2022, this signal marked the full onset of a bear market. Now, in 2025, the third cross has officially begun, with the MACD continually expanding its negative value, and long-term selling pressure intensifying. Will 2025 repeat this?
In addition, the 50-day moving average fell below the 200-day moving average in early June, indicating a worsening short-term trend. The RSI has dropped to 42 (below the neutral line of 50), and selling pressure continues to increase. An RSI below 50 typically means there are more sellers than buyers. With these indicators declining, bulls need a strong rebound near $0.168 to maintain momentum.
That being said, recently it's not just Dogecoin that's been in the green. The entire crypto market is falling, as if everyone agreed to dive together. The immediate trigger is the severe conflict between Israel and Iran in the Middle East, causing widespread anxiety; everyone fears that war will affect the economy, tightening their wallets even more.
Another important reason is that the Federal Reserve is not lowering interest rates. Previously, everyone hoped that the Fed would lower rates to save the market, but now it seems unlikely. Coupled with global trade frictions and geopolitical conflicts, the economic outlook is unclear, and the Fed may further downgrade growth expectations. All these bad news weigh heavily on the crypto market, making it hard not to decline.
DOGE stands at a crossroads, closely monitoring the weekly close at $0.168. If it drops below this level, it's time to stop losses; if it holds, one might consider buying on dips. The market is waiting for the next major signal—do you choose to buy the dip or run for safety?
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