Will Dogecoin Bounce Back? ๐ถ๐๐
The memecoin market cap plummeted 65%, dropping from $116.7B to $40.46B in Q1 2025. As part of the decline, Dogecoin has struggled to reclaim the $0.15 mark.
Over the last 120 days, DOGE fell from $0.46 to $0.1475, a drop of nearly 70%. So, is a reversal still on the table?
Dogecoin Price Analysis ๐
The recent downtrend broke through the critical $0.15 support. Fibonacci retracement shows a key support level at 23.60% ($0.1379).
Despite the crash, DOGE posted a 4.07% intraday gain, bouncing off a lower price rejection โ hinting at a short-term recovery. This may challenge the long-term resistance trendline, which currently caps any major bullish move.
However, the 100-day and 200-day EMAs just formed a bearish crossover, confirming a strong downward alignment with the 20, 50, 100, and 200-day EMAs all pointing lower.
Meanwhile, the daily RSI shows a bullish divergence, moving slightly above the oversold zone โ this could signal a potential DOGE comeback.
Whales Losing Confidence? ๐โ ๏ธ
In the last 48 hours, heavy sell-offs suggest whales are pulling back from meme coins amid increased market volatility. A commercial conflict could further shake DOGE's price, potentially flooding supply.
Still, analyst Ali Martรญnez highlights a long-term support trendline around $0.13 (Fibonacci 67.80%), which may act as a crucial rebound level for DOGE.
This support level lines up with the trendline from October 2023.
DOGE Futures Outlook ๐ฎ
Despite rising uncertainty, traders remain cautiously optimistic. DOGE futures showed higher volatility in the last 24 hours.
Interestingly, long positions have climbed from 48.55% to 52.87%, pushing the long/short ratio from 0.9436 to 1.1218 in just 4 hours โ indicating growing bullish sentiment.
Based on Fibonacci levels and price action, DOGEโs potential rebound could reach the 20-day EMA at $0.1656, aligning with its long-term resistance trendline.
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