Dogecoin (DOGE) Falls Again as Trader Sentiment Turns Increasingly Bearish

Overview

Dogecoin (DOGE) has experienced a significant decline, dropping below the $0.1550 mark against the US Dollar. The cryptocurrency is currently consolidating losses and facing potential hurdles as trader sentiment turns bearish.

Recent Developments

Dogecoin’s price began to decline after it closed below the $0.1620 level. This downward movement is in line with broader trends observed in other cryptocurrencies, including Bitcoin and Ethereum. DOGE’s price fell below critical support levels of $0.160 and $0.1550, eventually trading below $0.150. A recent low was recorded near $0.1448, indicating a bearish trend as the price remains below the 23.6% Fibonacci retracement level of the downward move from a previous swing high.

Currently, there is a bearish trend line forming with resistance at $0.1550 on the hourly chart of the DOGE/USD pair. The price is trading below the 100-hourly simple moving average, suggesting continued bearish momentum. Should there be any attempts at recovery, immediate resistance is noted near the $0.1520 level.

The first major resistance for any bullish movement is near the $0.1550 level, which coincides with the trend line and the 76.4% Fibonacci retracement level from the recent downward move. If the price manages to close above $0.1620, it could potentially advance toward higher resistance levels.

Potential Future Movements

Should DOGE fail to surpass the $0.1550 level, further declines may occur. Initial support is identified near the $0.1450 level, followed by a more significant support area at $0.1320. The primary support sits at $0.1250, and a break below this level could lead to additional declines, potentially reaching $0.120 or even $0.1120.

Impact on the Crypto Market

• Dogecoin’s decline reflects broader bearish sentiment in the cryptocurrency market.
• The failure to maintain key support levels may lead to further selling pressure on DOGE and potentially other cryptocurrencies.
• The formation of bearish technical indicators, such as the MACD gaining momentum in the bearish zone, signals a lack of buying interest.
• Resistance levels at $0.1550 and $0.1620 will be crucial for any potential recovery in DOGE’s price.
• The current market conditions may influence trader behavior, leading to increased caution among investors.

Updated: 11/21/2025, 6:36:40 AM