Dogecoin Price Drops Below Key Levels – How Low Can It Go?

The memecoin Dogecoin, historically influenced by Elon Musk, is facing downward pressure following its exclusion from X's anticipated 2025 crypto integration roadmap and recent technical difficulties.

Primary Catalyst: Dogecoin's Omission from X’s Crypto Roadmap

A leaked Financial Times report detailing X's "Super App" strategy outlined plans for crypto payment integration utilizing Visa, but notably omitted any mention of Dogecoin. This absence surprised many, considering Elon Musk's past promotion of DOGE on the platform. The omission has sparked speculation that Dogecoin may not be integral to X's future fintech ecosystem, leading to significant sell-offs.

Technical Breakdown: Intensifying Bearish Momentum

Dogecoin has breached several key technical support levels, indicating a weakening position:

• 10-day SMA: DOGE is currently trading below its short-term average of $0.176, signaling near-term vulnerability.
• 50-day SMA: The price has fallen below the more significant medium-term average at $0.201, confirming a shift towards bearish momentum.
• RSI: The 14-day Relative Strength Index is at 31.94, suggesting oversold conditions but without any bullish divergence to indicate an imminent reversal.

One of the last remaining support zones lies at the $0.159 swing low, which aligns with the 78.6% Fibonacci retracement level from the previous upward trend. A failure to hold this level could see Dogecoin potentially decline towards $0.14, a price range last seen in April and May 2023.

Broader Market Context: Risk-Off Sentiment Affecting Altcoins

Dogecoin’s decline mirrors a broader trend of weakness across the altcoin market:

• Bitcoin dominance has increased to 64.4%, drawing capital away from memecoins and other speculative assets.
• The Crypto Fear & Greed Index has decreased to 43 (Neutral), reflecting growing caution among investors.
• Trading volume increased by 11% to $832 million, but this spike appears to be driven by panic selling rather than strategic accumulation.

How Low Could DOGE Potentially Fall?

If the current bearish pressure persists and the $0.159 support level is decisively broken, Dogecoin could potentially target:

• $0.148 – A psychological round number and previous support level.
• $0.136–0.140 – The final demand zone before reaching price levels from early 2023.

Unless market sentiment improves or a bullish catalyst emerges—such as renewed support from Elon Musk or unexpected utility within the X ecosystem—DOGE may struggle to recover lost ground in the short term.