- Dogecoin (DOGE) price has dropped below $0.20 as selling pressure intensifies.
- Analysts warn of a possible slide toward the $0.10 level.
- Large Dogecoin holders are quietly reducing their positions.
Dogecoin (DOGE), the internet’s favorite meme coin, is once again under pressure after falling below the critical $0.20 mark, raising concerns among traders about the sustainability of its recent upward momentum.
Despite attempts to recover in recent months, Dogecoin has plunged sharply over the past week, losing more than 15% of its value amid broader market uncertainty and weakening investor confidence.
At the time of writing on June 18, Dogecoin was trading between $0.16 and $0.17 after retreating from earlier short-term highs this year, prompting a wave of bearish forecasts and renewed analyst scrutiny.
Bears Gain the Upper Hand
Recent price action for Dogecoin has been dominated by a bearish tone, amplified by geopolitical tensions and a shift in crypto investors’ risk appetite.
While meme coins are often volatile by nature, the rapid downturn has raised questions about the strength of DOGE’s long-term support levels, especially as it flirts dangerously with the $0.16–$0.17 range.
Technical indicators now reflect stress across the market: the moving average convergence divergence (MACD) is flashing sell signals and the token is trading below its 50-day moving average.
Additionally, the emergence of a descending flag pattern on key charts has fueled speculation that the coin could revisit the lows seen before the 2024 rally.
Whales Quietly Cash Out
Amid falling prices, major Dogecoin holders have begun reallocating capital to other, rising assets — signaling a strategic withdrawal from what some now view as a fading trend.
On-chain analytics show that long-term wallets holding DOGE trimmed their balances by nearly 0.88% in just 24 hours, suggesting growing unease even among “diamond hands.”
Analysts Split on What Comes Next
Although the prevailing sentiment leans bearish, not all experts agree that Dogecoin is heading for oblivion.
Popular chartist Javon Marks believes the token still displays a bullish breakout pattern and is maintaining higher lows, which could form a base for a strong rally.
$DOGE (Dogecoin)’s prices are CONTINUING TO HOLD A BULLISH PATTERN & BREAKOUT and a MASSIVE MOVE TOWARDS $0.6533 can take place in result!
As prices continue to hold Higher Lows, this hints that Dogecoin is still in an uptrend and as the breakout holds, this gives a target where… https://t.co/yy7NsrbuXi pic.twitter.com/vNyO2ej0ZI
— JAVON⚡️MARKS (@JavonTM1) June 18, 2025
Marks suggests that if this trend holds, Dogecoin could climb to $0.6533 — a level representing roughly 280% gains from current prices — and in an extended rally could even reach $1.25.
Supporting this bullish view, another trader known as Trader Tardigrade recently identified a falling wedge on DOGE’s 4-hour chart, a pattern often associated with bullish reversals.
#Dogecoin has formed a Falling Wedge, pointing onto a swing low support 🔥
The downward momentum has gradually decreased as it nears the wedge’s apex.pic.twitter.com/cYIZLSKnK8— Trader Tardigrade (@TATrader_Alan) June 17, 2025
Despite this optimism, the broader crypto market remains cautious: about 87% of analysts currently view Dogecoin’s short-term outlook as negative.
Moreover, recent comments from Elon Musk denying government endorsement of DOGE have dampened some of the speculative enthusiasm that previously boosted the coin’s price.
Dogecoin Price Outlook: Is $0.10 Now in Sight?
While Dogecoin is not yet in a freefall, pressure on support levels is mounting, prompting many to ask whether a drop to $0.10 is now a realistic scenario.
If DOGE fails to hold the $0.16 threshold, analysts warn that algorithmic trading and panic selling could trigger a swift decline toward $0.14 and potentially as low as $0.10.
Such a move would mark a dramatic reversal from the coin’s November 2024 peak of $0.47 and would further fuel concerns that the era of meme coins is losing its luster.
Volatility, however, is nothing new for Dogecoin, and past downturns have sometimes been followed by surprising rebounds driven by viral support and sudden market shifts.
For now, traders remain glued to the charts as they prepare for what could be a decisive moment in Dogecoin’s turbulent journey.