Dogecoin Faces Key Test at $0.152 After Multi-Year Trendline Break
Dogecoin (DOGE) is under pressure after breaking its multi-year ascending trendline, with $0.1520 now a critical support level. A sustained hold could trigger a rebound, while a drop below opens the door to $0.150 and $0.120.
Market Context
- Whales accumulated 4.72B DOGE (~$770M) in the past two weeks.
- Speculation rises around Bitwise and Grayscale planning spot DOGE ETF filings.
- Bitcoin’s death cross and extreme-fear sentiment are weighing on high-beta assets, while the meme-coin sector lags amid a 2% crypto market cap decline.
Price Action & Technicals
- DOGE fell 5% from $0.161 to $0.153, with volume surging 168% above average.
- Temporary support sits at $0.1520, with a developing double bottom near $0.155 signaling potential slowing of bearish momentum.
- Resistance lies at $0.159–$0.160, with upside to $0.163–$0.170 if bulls regain control.
Traders now watch $0.1520 closely, as holding it may allow a rebound, while BTC-driven macro weakness remains a dominant headwind.
