Dogecoin price slumped to its lowest level since August 2024, down 83% from its 2025 high. DOGE token was trading at $0.0837 at the time of writing, and the technicals suggest that it has more downside to go in the near term as demand wanes.
Dogecoin Price Prediction: Technical Analysis Points to More Downside
The weekly chart shows that the DOGE price has slumped in the past few months, mirroring the performance of other top meme coins. It slumped from a high of $0.4837 in early 2025 to its current level of $0.0837.
A closer look shows that the token has settled along the neckline of the head-and-shoulders pattern. This is a common bearish continuation sign in technical analysis.
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The head is at $0.4837, the left shoulder is at $0.2285, and the right shoulder is at $0.3060. The DOGE price has slumped below the 50- and 100-day Exponential Moving Averages (EMAs).
Therefore, the token will likely continue to fall, potentially reaching the key support level at $0.04977, its lowest point on June 22nd. This retreat is about 40% below the current level. The coin also remains well below all moving averages, while the Relative Strength Index (RSI) has continued to fall.
Dogecoin is Facing Major Challenges
The ongoing DOGE price action coincides with the broader crypto market crash affecting Bitcoin, Ethereum, and XRP. The market capitalization of all tokens has dropped to around $2.1 trillion.
Dogecoin price is also falling due to declining volume. CoinGlass data shows that the volume has retreated from over $60 billion in November 2024 to $1.91 billion at the moment.
Similarly, Dogecoin’s futures open interest has dropped to $1 billion from a high of $6 billion in September last year.
The same is happening in the ETF market. Data show that spot DOGE ETFs have added just $664k this month, down from $2.15 million in the previous month. These funds now hold about $12.4 million in inflows and hold just $11.9 million in assets, a tiny amount for a crypto project worth billions of dollars.
Dogecoin has also plunged as investors have moved away from meme coins. Top meme coins like Shiba Inu, Bonk, Pepe, and Dogelon Mars have all plunged by double digits from their all-time highs.
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