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An early morning decline briefly brought the DOGE price below $0.20 for the first time since the initial post-election meme coin surge; however, a recovery has limited the daily loss to 1.49%.
As the bull market has progressed, broader economic concerns—such as President Trump’s “tariff battle” and tensions among NATO allies—have impacted former meme coin leaders.
Dogecoin, which has fallen 17.82% this week, has been particularly affected. Nonetheless, with today’s trading volume decreasing by 10% to $2 billion, bearish pressures may be subsiding.
DOGE Price Analysis: Is This the Conclusion for Meme Coins?
As the market leader, Dogecoin (DOGE) is often regarded as the Bitcoin (BTC) of meme coins, making its price movements a significant indicator for the overall meme coin market.
Its recent drop appears to have found support around the $0.20 level. This coincides with the breakdown target of a previous ascending triangle pattern.
DOGE / USDT 4H chart, double-bottom pattern. Source: TradingView.
Two subsequent retests have positioned DOGE for a potential rebound, creating a double-bottom pattern that targets $0.24850—an 18% increase from current levels.
This occurs as indicators suggest short-term bullish momentum.
The Relative Strength Index (RSI) has sharply rebounded from oversold territory at 41, while the MACD forms a golden cross, surpassing the signal line—both signs of diminished selling pressure.
However, an impending retest of the persistent 20SMA resistance could hinder this momentum.
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If the pattern fails, the DOGE price may enter a consolidation phase or experience a deeper decline towards historical support around $0.155—a potential 26% drop.
Dogecoin May Not Experience the Best of this Bull Cycle
While meme coins find themselves in a delicate situation, presales have emerged as a favored strategy to mitigate against recent market downturns.
A notable example is Bitcoin Bull (BTCBULL), which is attracting attention with a novel approach to leverage Bitcoin’s (BTC) upward trends.
True to its name, Bitcoin Bull links its tokenomics to Bitcoin’s price growth in a deflationary model.
The project burns tokens and distributes BTC airdrops whenever Bitcoin reaches significant milestones—starting at $125,000 and triggering new rewards for every subsequent $25,000 increase.
With some analysts predicting BTC highs of $250,000 this cycle, BTCBULL could become a Bitcoin enthusiast’s best ally.
Having raised nearly $3 million in its initial weeks, the project is already gaining significant traction—potentially attributed to its 148% APY on staking that rewards early investors.
You can follow Bitcoin Bull on X and Telegram, or join the presale on the Bitcoin Bull website.
The post Is Dogecoin Finished? DOGE Drops Below $0.20 – End of Meme Coins? appeared first on Cryptonews.
