The cryptocurrency market had been experiencing sideways movement as investor focus shifted to gold and silver. However, after precious metals retreated from their highs, risk assets were anticipated to see some relief. Instead, selling pressure intensified across markets. Bitcoin dropped to intraday lows near $81,000, dragging down overall crypto sentiment. Dogecoin’s price has also been under pressure and is currently testing a crucial support zone around $0.10.
With the price hovering at this level, the key question is whether DOGE bulls can defend this support—or if a deeper move, possibly a 50% pullback, is now likely.
Dogecoin is at a critical long-term turning point as the price retests a rising trendline that has defined its macro structure for nearly a decade. This ascending trendline historically limited DOGE’s upside until the 2021 bull run, after which it became a key support zone. Price is once again near this level, making it a crucial area for bulls to protect. However, broader technical indicators are not entirely supportive, raising the risk of a structural breakdown.
The long-term chart paints a cautious picture. The monthly MACD has turned lower, indicating increasing selling pressure, while the monthly RSI has fallen below its median level, showing weakening momentum. Although DOGE’s price has briefly dropped below $0.10 in the past and recovered quickly, the current setup lacks strong bullish confirmation. Failing to hold this trendline could expose Dogecoin to a deeper correction, potentially triggering a 40–50% downside from current levels.
From a technical standpoint, Dogecoin’s price is approaching a high-risk decision zone. The price is challenging the long-term ascending trendline, which has consistently served as a structural pivot since 2014. The inability to generate a strong bounce here indicates diminishing bullish momentum. A clear monthly close below the trendline and the $0.10–$0.09 support range would confirm a macro breakdown, leading to a deeper retracement towards the $0.06–$0.05 demand zone.
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