Key takeaways
- DOGE is one of the worst performers in the top 10 this week, falling 17% over the past seven days.
- Bulls are defending the psychological $0.20 level amid a strong bearish price action.
DOGE down 17% this week
The crypto market turned sharply bearish this week, with Bitcoin sliding below $110,000 on Thursday. Ether is trading under $4,000, while XRP is holding a support area around $2.70.
Memecoins have taken the hardest hits. DOGE, the largest memecoin by market capitalization, has dropped about 17% since the start of the week, making it the second worst performer among the top 10, behind Solana.
This downtrend pushed DOGE’s price down to roughly $0.225. If bearish pressure persists, DOGE risks dipping below $0.20 for the first time since August 6.
$0.20 in focus as bearish sentiment strengthens
The 4‑hour DOGE/USD chart shows a clear bearish tone and weakening momentum, reflecting the 17% loss this week. The coin could face further correction as Bitcoin and other major coins remain in the red.
The 4‑hour RSI sits around 34, below the neutral 50 mark, indicating strong selling pressure on DOGE. MACD lines also flipped into negative territory over the weekend, reinforcing bearish conditions.
If the sell-off continues, DOGE could break the $0.20 support level this month. A more extended bearish run would target daily illiquid price zones near $0.189.
On the other hand, if bulls regain control, DOGE could rebound toward the first resistance near $0.25. Clearing the 4‑hour illiquid zone around $0.25 could propel DOGE sharply higher toward trendline resistance and a key barrier at approximately $0.288.
Overall market sentiment is currently bearish. Upcoming PCE inflation data, scheduled for release later today, could give traders clues about the Fed’s next policy move and influence near‑term price direction.