Dogecoin Price Sinks to New Lows, Can Bulls Regain $0.171 Soon?

The Dogecoin price recently spiraled lower, mirroring Bitcoin’s sharp fall below $100k and the broader crypto market fall. The mood shifted from optimism to caution almost overnight as whale activity picked up, igniting a violent sell-off. A staggering $700 million DOGE flowed from large holders, intensifying downward momentum and sparking jitters among retail traders. 

As prices smashed through the crucial $0.16466 level, technical alarms became undeniable, confirming a bearish break. With nerves stretched, investors are now questioning: will DOGE find its footing soon, or will it go deeper into lows? If you are one of them, then this price analysis is a must-read for you. 

DOGE Price Analysis

Checking DOGE’s four-hour chart, the action paints a tale of persistence and pressure. The Doge price stumbled under the 78.6% Fibonacci retracement at $0.16466 and now trades at $0.1619, marking a daily dip of 0.69% and a week-long slide of 10.56%. Successively, technical signals remain bleak, with the RSI dipping to 45.99 and hugging oversold territory.

That being said, the support now lines up at the October low of $0.1525. Should bears overpower this level, the next landing spot sits at $0.14. Each retest of these lines has increased risk for bulls, as stop-losses below the Fibonacci support fuel further downward momentum. The 200-day SMA, high above at $0.20925, justifies how far DOGE’s price has retreated from its medium-term trend.

For price watchers hoping for relief, keep your eyes on $0.171. This point marks the best chance for a bounce. A daily close above can trigger short-term bullish momentum and drive a swift run toward $0.18766. However, unless buyers flood in to reclaim lost ground, the bias stays firmly bearish.

If the next support gives way, downside could escalate rapidly to $0.14. Contrarily, a breakout above $0.171 could shift sentiment and invite quick gains back into the range. When to expect targets? The speed of moves in DOGE tends to surprise, but based on current momentum, a break to $0.1525 or a rebound to $0.171 could play out in the next 3 to 5 sessions.

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