The price of Dogecoin (DOGE) has dropped below $0.20 amid rising bearish pressure. Analysts warn of a possible slide to the $0.10 level. Dogecoin whales are quietly offloading their holdings.

Dogecoin (DOGE), the internet’s favourite meme coin, is once again under pressure as it dips below the critical $0.20 level, raising concerns among traders about the sustainability of its recent uptrend.

Despite attempts at recovery in recent months, Dogecoin has fallen sharply in the past week, shedding over 15% of its value amid broader market uncertainty and waning investor confidence.

At press time on June 18, Dogecoin was trading between $0.16 and $0.17, having slipped from a short-lived high earlier this year, triggering a flurry of bearish predictions and renewed scrutiny from analysts.

Dogecoin’s recent price action has been dominated by bearish sentiment, amplified by geopolitical tensions and a shift in overall risk appetite among crypto investors.

Although 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 a market under pressure, with the Moving Average Convergence Divergence (MACD) flashing a sell signal and the token trading below its 50-day moving average.

Furthermore, the emergence of a bearish flag pattern on major charts has fueled speculation that the coin may revisit lows last seen before the 2024 rally.

Amid the price slide, large holders of Dogecoin have begun moving capital into emerging alternatives, signalling a strategic exit from what some now consider a fading trend.

Blockchain analytics indicate that long-term wallets holding DOGE have reduced their balances by nearly 0.88% in just 24 hours, hinting at growing unease among so-called “diamond hands.”

While the prevailing sentiment may lean bearish, not all experts agree that Dogecoin is on a path to oblivion just yet.

Popular chartist Javon Marks believes the token is still holding a bullish breakout pattern, maintaining higher lows that could set the stage for a powerful 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

According to Marks, if this trend continues, Dogecoin could surge to $0.6533—a level representing a nearly 280% gain from current prices—and possibly reach $1.25 in an extended rally.

In support of this view, another trader known as Trader Tardigrade recently identified a falling wedge pattern on DOGE’s 4-hour chart, a structure 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.$Doge/H4 pic.twitter.com/cYIZLSKnK8

— Trader Tardigrade (@TATrader_Alan) June 17, 2025

Despite this optimism, the overwhelming mood in the broader crypto market remains cautious, with 87% of analysts currently bearish on Dogecoin’s short-term outlook.

Moreover, Elon Musk’s recent comments denying any government adoption of DOGE have deflated some of the speculative hope that previously buoyed the coin’s price.

Although Dogecoin is not yet in free fall, the pressure on support levels is intensifying, prompting many to question whether a drop to $0.10 is now a realistic scenario.

Should DOGE fail to hold the $0.16 threshold, analysts warn that a rapid descent toward $0.14 and possibly even $0.10 could be triggered by algorithmic trading and panic selling.

Such a move would mark a dramatic reversal from the coin’s November 2024 peak of $0.47, further solidifying fears that the meme coin era may be losing its charm.

Still, volatility is nothing new for Dogecoin, and past downturns have occasionally given way to surprising comebacks driven by viral support and sudden market swings.

For now, all eyes remain fixed on the charts as traders brace for what could be a defining moment in Dogecoin’s turbulent journey.

The post Dogecoin price prediction as DOGE drops below $0.2 appeared first on CoinJournal.

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