{"id":839361,"date":"2025-04-06T08:12:14","date_gmt":"2025-04-06T13:12:14","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/04\/06\/dogecoin-doge-poised-for-21-drop-bearish-setup-confirmed\/"},"modified":"2025-04-06T08:12:14","modified_gmt":"2025-04-06T13:12:14","slug":"dogecoin-doge-poised-for-21-drop-bearish-setup-confirmed","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/04\/06\/dogecoin-doge-poised-for-21-drop-bearish-setup-confirmed\/","title":{"rendered":"Dogecoin (DOGE) Poised for 21% Drop, Bearish Setup Confirmed?\u00a0"},"content":{"rendered":"
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\"Dogecoin<\/figure>\n<\/div>\n
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Despite a recent 16% price decline, Dogecoin (DOGE), the world\u2019s largest crypto meme coin, is poised to continue its downward momentum. The reason behind this speculation is the formation of a bearish price action pattern on the daily time frame amid ongoing bearish market sentiment.<\/p>\n

Dogecoin (DOGE) Technical Analysis and Upcoming Levels\u00a0<\/strong><\/h2>\n

According to CoinPedia\u2019s technical analysis, DOGE appears to be bearish as it has formed a textbook-style head and shoulders price action pattern on the daily time frame. Additionally, the price of the meme coin is on the verge of a major breakdown.<\/p>\n

<\/a>
Source: Trading View<\/figcaption><\/figure>\n

Based on recent price momentum and historical patterns, if the meme coin breaches the neckline of the bearish pattern and closes a daily candle below the $0.16 mark, it could drop by 21% to reach the support level of $0.13 in the future.<\/p>\n

As of now, DOGE is trading below the 200 Exponential Moving Average (EMA) on both the daily and four-hour time frames. This indicator suggests that the meme coin is in a strong bearish trend and is following a downward momentum.<\/p>\n

However, traders and investors often use this setup to sell off or short the asset whenever its price shows any signs of upward movement.<\/p>\n

Current Price Momentum<\/strong><\/h3>\n

At press time, DOGE is trading near $0.168 and has recorded a 1% price drop over the past 24 hours. Meanwhile, during the same period, its trading volume declined by 60%, indicating reduced participation from traders and investors\u2014potentially due to bearish market sentiment.<\/p>\n

$6 Million Worth of DOGE Outflow\u00a0<\/strong><\/h2>\n

However, amid this bearish outlook, investors appear to be accumulating tokens, potentially signaling a classic buy-the-dip strategy, according to on-chain analytics firm Coinglass<\/a>.<\/p>\n

<\/a>
Source: Coinglass<\/figcaption><\/figure>\n

Data on spot inflows and outflows reveals that exchanges have seen an outflow of approximately $6.11 million worth of DOGE over the past 24 hours. This substantial outflow suggests potential accumulation and could lead to increased buying pressure.<\/p>\n

Yet, while this massive outflow has the potential to trigger an upside rally, the prevailing bearish market sentiment may make it difficult to sustain such upward momentum.<\/p>\n<\/div>\n

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\n Chandan Gupta<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite a recent 16% price decline, Dogecoin (DOGE), the world\u2019s largest crypto meme coin, is poised to continue its downward momentum. The reason behind this speculation is the formation of a bearish price action pattern on the daily time frame amid ongoing bearish market sentiment. Dogecoin (DOGE) Technical Analysis and Upcoming Levels\u00a0 According to CoinPedia\u2019s<\/p>\n","protected":false},"author":1,"featured_media":839362,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45671,23308],"tags":[],"class_list":{"0":"post-839361","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-dogecoin","8":"category-poised"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/839361","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=839361"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/839361\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/839362"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=839361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=839361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=839361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}