$DOGE coin just took a big hit! 🐶💥 In the last 24 hours alone, DOGE dropped 6.53%, now sitting around $0.247. It’s not just DOGE – the whole market is bleeding, with $508 million in crypto liquidations… mostly long positions that went the wrong way.
What’s behind the drop? 👀
Economists are now thinking a July interest rate cut might not happen after all. That’s put pressure on the whole market — and all eyes are now on the U.S. Federal Reserve's big meeting on July 30.
But here’s the twist:
Just last week, DOGE was flying high — up 27% in a week! 🚀
Why? Buzz around a possible DOGE ETF and Bit Origin stacking up a massive $500 million reserve gave DOGE its pump. Plus, the new GENIUS Act — a major stablecoin law — helped boost meme coins like DOGE.
🔻 Now the hype’s cooling.
$DOGE hit a high of $0.288 on Monday (same level as mid-February) — but now, it’s testing critical support at $0.2399 (4H SMA 50). This line held strong during the last rally… but if DOGE loses this level?
👉 We’re looking at a possible drop to $0.19 or even lower — the 4H SMA 200.
But here’s the bullish case 🟢:
Crypto analyst Ali says that if DOGE can hold above $0.25, it could still shoot toward $0.36. Big "if" though — today’s close is key.
Summary:
is at a make-or-break moment. Either it holds this line and rallies… or breaks it and dives back into the old range. Stay sharp! ⚠️
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