Altcoins News
By Julie Binoche
1 / 14
Dogecoin (DOGE), the largest cryptocoin by market cap, is navigating a difficult retracement phase after failing to overcome a crucial resistance level at $0.20.
2 / 14
At press time, DOGE was trading below key technical levels, and the bearish market structure on the daily chart indicates that further downside cannot be ruled out.
3 / 14
Dogecoin’s price action over the past few weeks has shown clear signs of bearish dominance. The cryptocoin had previously rallied in early May, but recent losses have brought it…
4 / 14
The daily chart reveals a consistent trend of lower highs and lower lows, confirming the ongoing bearish market structure. DOGE has repeatedly found support around the $0.
5 / 14
Despite minor rebounds, Dogecoin has been unable to reclaim the $0.20 resistance level—an area that must be flipped into support for bulls to regain control.
6 / 14
While Dogecoin’s price action remains weak, on-chain metrics are flashing early signs of possible accumulation.
7 / 14
Currently, DOGE’s NVTS is significantly lower than it was during the May–June 2024 period, indicating that the asset might be undervalued relative to its network utility.
8 / 14
Another encouraging sign comes from Glassnode’s Exchange Net Position Change metric. In early June, the net flow of DOGE onto exchanges turned negative.
9 / 14
That said, it’s important to temper expectations. Similar accumulation patterns were observed in January 2025, but DOGE continued to trend downward for several months afterward.
10 / 14
Given the current landscape, traders and investors should brace for continued volatility in DOGE’s price.
11 / 14
The On-Balance Volume (OBV) indicator for DOGE also confirms a lack of bullish conviction. Selling pressure remains dominant, and volume trends suggest that sellers are still in…
12 / 14
In summary, Dogecoin’s outlook remains mixed. On the one hand, the asset is structurally bearish, with a possible dip to $0.17 on the horizon.
13 / 14
For short-term traders, caution is advised. The price may continue to slide before any meaningful recovery takes place.
14 / 14
Until Dogecoin can decisively break above $0.20 and hold it, the path forward will likely remain choppy—and investors should be prepared for turbulence.
The Currency Analytics
Want the full story?