Dogecoin (DOGE ($0.14)) experienced a rough 24-hour trading session, declining by 2.23% to settle at $0.16571. The meme coin attempted to push higher but faced resistance at $0.17158, while the lowest point of the session was $0.16468. Trading volume stood at 258.26 million DOGE, reflecting mixed sentiment among investors.

Price Performance: A Struggle to Gain Momentum

DOGE has been hovering in a tight range, showing signs of exhaustion after its previous rally. While buyers attempted to push the price above $0.17, bearish pressure dominated. The broader trend remains bearish, with Dogecoin losing significant value since its high of nearly $0.50 in late 2024.

Source: TradingView

Compared to its all-time high of $0.7376 in May 2021, DOGE is down by 77.61%. However, it remains a strong performer in the long run, boasting a staggering 193,066.91% gain from its all-time low of $0.00008547 in 2015.

Will DOGE Recover or Drop Further?

The technical setup suggests DOGE needs to reclaim $0.17 to reverse short-term bearish pressure. If selling continues, it could test the $0.16 support level, which, if broken, may lead to further declines. On the flip side, if bulls regain control, a breakout above $0.175 could open doors for a move toward $0.20.

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Market sentiment remains cautious, with traders watching Bitcoin and overall crypto trends. If BTC ($90,067.00) stabilizes or moves higher, DOGE may follow suit. However, continued selling pressure could signal another leg down.

Dogecoin’s short-term trend leans bearish after the latest decline. Holding above $0.165 is crucial to prevent further losses. Bulls need to reclaim $0.17 for a potential recovery, while bears could push DOGE below $0.16 if momentum weakens. Traders should stay alert as volatility remains a key factor in DOGE’s price action.

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