Dogecoin (DOGE) price has finally lost support over the ascending trendline it has maintained since March 11, 2025. Following this breakdown of crucial support, the meme coin is now poised for a massive price decline.

Dogecoin (DOGE) Price Action and Upcoming Levels

According to CoinPedia’s technical analysis, DOGE appears bearish as it has lost control over a crucial support level. This bearish price action is further reinforced by the overall negative market sentiment.

According to recent price action and historical momentum if DOGE remains below the $0.166 level it could drop by 18% to reach $0.136 in the future.

Dogecoin Trading Volume Hits 2025 Low

With the bearish price action and negative market sentiment traders and investors are ignoring the meme coin which is pushing the trading volume down sharply.

Data from on-chain analytics firm Santiment reveals that DOGE’s 24-hour trading volume has dropped to its lowest level of 2025.

Dogecoin price action is bearish and trading volume is at its lowest of 2025. Credit: Santiment

At press time, DOGE is changing hands at $0.166, registering a price drop of over 5% in the past 24 hours. However, during the same period, its trading volume decreased by 30% compared to the previous day.

With the bearish price action and a record low in trading volume, DOGE’s daily active addresses have also fallen significantly since the beginning of March 2025. Santiment recorded a drop of over 50% in active addresses, declining from 81,563 to 42,563.

Major Liquidation Levels

Liquidation levels are also a crucial factor to consider as they can influence the direction of the price trend. According to on-chain analytics firm Coinglass, traders are currently over-leveraged at $0.165 on the lower side, with over $4.60 million worth of long positions.

Conversely, $0.173 is another over-leveraged level where short traders prevail, having accumulated $21 million in short positions.

This analysis shows that bears are currently dominating and may propel the price toward lower price levels.

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