Dogecoin Faces Bearish Pressure! Can It Still Hit $1 in 2025?

Recent days have seen increased uncertainty in the cryptocurrency market, signaling heightened buying and selling pressure. Memecoins have seen significant price action, with major tokens experiencing consistent volatility.

Investors are now wondering if it’s a good time to invest in Dogecoin and are wary of a potential crypto crash this week. This article delves into market sentiments and offers a short-term analysis of Dogecoin’s price.

DOGE Meme Coin Holds Its Important Support Of $0.265!

Dogecoin’s price has dropped by approximately 1% in the past 24 hours, with a trading volume of $2.886 billion, marking a -53.36% change. Over the last seven days, it has declined by 18.24% and by 30.81% over the past month. With a market cap of $39.63 billion, it currently holds the 8th position in the market.

The Moving Average Convergence Divergence (MACD) shows a continuous decline in the red histogram, indicating increased selling pressure for the largest memecoin in the market. Meanwhile, the SMA indicator continues to act as resistance on the Dogecoin price chart, suggesting a potential further decline in value.

Will DOGE Price Ever Recover?

Keeping the price above its support level could pave the way for Dogecoin to retest its immediate resistance at $0.325. If bullish sentiment persists, the price may rise towards the upper resistance level of $0.385.

However, if bearish sentiment prevails, Dogecoin could break below its crucial support at $0.265 and potentially drop towards the key support level of $0.20750 in the near future.

Thinking of investing in the leading memecoin before the memecoin frenzy kicks off? Check out our latest Dogecoin Price Prediction for insights!

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