Dogecoin (DOGE) has fallen into a technically oversold zone, but the market has not yet shown bullish momentum. As of June 23, 2025, the price of Dogecoin continues to decline, plummeting nearly 4% in the past 24 hours, and has fallen below $0.14 for the first time since April. Over the past month, Dogecoin has dropped from a high of $0.23 to $0.15, a decrease of about 36%, continuing a long-term downward trend. Unlike the 18% rebound observed after the RSI hit a low in early March, there has been no response from the bulls this time.
Support levels are collapsing! DOGE is being brutally washed out by the market!
Recently, Dogecoin has consecutively lost multiple support levels, including $0.21 and $0.18, and has further fallen below $0.15 in the past two days, causing its market capitalization ranking to decline, surpassed by TRON (TRX). This downward trend is not an isolated phenomenon; the entire cryptocurrency market is generally under pressure, with Bitcoin briefly dropping to $98,200 in the morning, severely impacting altcoins. The meme coin craze has faded, with Shiba Inu (SHIB) and PEPE also experiencing around 30% drops in the past 30 days.
Technical deadlock: Where is the last hope for the bulls?
The price of Dogecoin (DOGE) has started a new round of decline after failing to break through the $0.1720 resistance level, performing weaker than Bitcoin and Ethereum, breaking below the $0.1600 and $0.1580 support levels, with a minimum reaching $0.1427. It has currently slightly rebounded to above $0.1510, breaking the bearish trend line on the hourly chart but still facing resistance at $0.1580 and the 100-hour moving average.
The key upward resistance levels are at $0.1550, $0.1580 (50% Fibonacci retracement level), and $0.1610. If it breaks above $0.1610 or pushes up to $0.1720 or even $0.200, but if it cannot break above $0.1580, it may drop towards the support levels of $0.1480, $0.1440, or $0.1420. Breaking below $0.1420 may lead to further declines to $0.1350 or $0.1280.
Technical indicators show that the hourly MACD bearish momentum is weakening, and the RSI is above 50. The short-term trend depends on the breakout of the $0.1580 resistance level. If this level breaks again, DOGE will plunge into the abyss, heading straight for the historical low of $0.14 in 2023.
