{"id":637986,"date":"2024-08-27T19:00:14","date_gmt":"2024-08-27T19:00:14","guid":{"rendered":"https:\/\/wncen.com\/?p=637986"},"modified":"2024-08-27T11:32:13","modified_gmt":"2024-08-27T11:32:13","slug":"dogecoin-set-for-a-drop-to-0-0914","status":"publish","type":"post","link":"https:\/\/wncen.com\/analysis\/doge\/dogecoin-set-for-a-drop-to-0-0914\/","title":{"rendered":"Dogecoin Set For A Drop: Bearish Forces Eye $0.0914 Target"},"content":{"rendered":"

Dogecoin<\/span><\/a> (DOGE) recent attempt to regain upward momentum has been abruptly halted as bearish forces reassert their dominance. After a brief <\/span>rally<\/span><\/a>, the popular meme coin is now under renewed selling pressure, with the price set to retreat toward the $0.1 mark. <\/span><\/p>\n

As negative momentum strengthens, the question is whether Dogecoin can hold this critical level or if further declines are imminent.<\/span><\/p>\n

This article analyzes the recent shift in Dogecoin\u2019s price dynamics as bearish momentum resurfaces. We will explore the sudden reversal, assess key technical indicators, and evaluate whether the $0.1 support level can withstand the pressure or if Dogecoin is poised for deeper decline.<\/span><\/p>\n

As of the time of writing, Dogecoin is trading at approximately $0.1059, reflecting a 3.42% decline. The cryptocurrency boasts a <\/span>market<\/span><\/a> capitalization exceeding $15 billion, with a trading volume surpassing $535 million. Over the past 24 hours, DOGE\u2019s market capitalization has seen a 3.57% decrease, while trading volume has dipped slightly by 0.83%.<\/span><\/p>\n

Market Sentiment: Bears Tighten Grip On Dogecoin<\/strong><\/h2>\n

On the 4-hour chart, Dogecoin has displayed strong downbeat momentum following its failure to break above the bearish trendline. The price is now attempting to fall below the 100-day Simple Moving Average (SMA). <\/span><\/p>\n

If DOGE successfully breaches this key level, it could begin a more pronounced downtrend, potentially driving the price down to the next crucial support at $0.0914.<\/span><\/p>\n

\"Dogecoin\"
Dogecoin attempting to drop below the 100-day SMA | Source: DOGEUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n

Additionally, on the 4-hour chart, the Relative Strength Index (RSI) has slipped below the 50% mark, currently resting at 41%. This decline highlights growing bearish momentum and suggests that selling pressure could intensify.<\/span><\/p>\n

On the daily chart, Dogecoin shows significant negative movement below the 100-day SMA by printing two bearish momentum candlesticks. This bearish <\/span>surge<\/span><\/a> reflects strong selling pressure and negative market sentiment, increasing the likelihood of DOGE reaching the $0.0914 target soon.<\/span><\/p>\n

\"Dogecoin\"
DOGE bearish movement eyes $0.0914 | Source: DOGEUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n

Finally, the 1-day RSI shows that bleak pressure on DOGE has returned. The signal line\u2019s upward attempt was cut short at 56% before falling below the 50% mark, now resting at 47%, intensifying selling pressure and a growing pessimistic sentiment for the digital asset.<\/span><\/p>\n

$0.0914 In Sight: Will This Key Support Level Hold?<\/strong><\/h2>\n

Exploring the significance of the $0.0914 <\/span>support<\/span><\/a> level and its potential to withstand bearish pressure reveals that if the price reaches this level and breaks below, the crypto asset will continue to move downward toward the $0.0745 support. Should the price fall through this level, it may drop to test the $0.0559 support mark and potentially move lower to explore additional support levels.<\/span><\/p>\n

However, if DOGE reaches the $0.0914 support range and bulls stage a comeback, the price could climb toward the $0.1293 resistance level. When it breaks through this resistance, the <\/span>cryptocurrency<\/span><\/a> may continue to rise, possibly targeting the $0.1491 resistance range and other higher levels.<\/span><\/p>\n

\"Dogecoin\"
DOGE trading at $0.105 on the 1D chart | Source: DOGEUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from iStock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Dogecoin (DOGE) recent attempt to regain upward momentum has been abruptly halted as bearish forces reassert their dominance. After a brief rally, the popular meme coin is now under renewed selling pressure, with the price set to retreat toward the $0.1 mark. As negative momentum strengthens, the question is whether Dogecoin can hold this critical level or if further declines are imminent. This article analyzes the recent shift in Dogecoin\u2019s price dynamics as bearish momentum resurfaces. We will explore the sudden reversal, assess key technical indicators, and evaluate whether the $0.1 support level can withstand the pressure or if Dogecoin is poised for deeper decline. As of the time of writing, Dogecoin is trading at approximately $0.1059, reflecting a 3.42% decline. The cryptocurrency boasts a market capitalization exceeding $15 billion, with a trading volume surpassing $535 million. Over the past 24 hours, DOGE\u2019s market capitalization has seen a 3.57% decrease, while trading volume has dipped slightly by 0.83%. Market Sentiment: Bears Tighten Grip On Dogecoin On the 4-hour chart, Dogecoin has displayed strong downbeat momentum following its failure to break above the bearish trendline. The price is now attempting to fall below the 100-day Simple Moving Average (SMA). If DOGE successfully breaches this key level, it could begin a more pronounced downtrend, potentially driving the price down to the next crucial support at $0.0914. Additionally, on the 4-hour chart, the Relative Strength Index (RSI) has slipped below the 50% mark, currently resting at 41%. This decline highlights growing bearish momentum and suggests that selling pressure could intensify. On the daily chart, Dogecoin shows significant negative movement below the 100-day SMA by printing two bearish momentum candlesticks. This bearish surge reflects strong selling pressure and negative market sentiment, increasing the likelihood of DOGE reaching the $0.0914 target soon. Finally, the 1-day RSI shows that bleak pressure on DOGE has returned. The signal line\u2019s upward attempt was cut short at 56% before falling below the 50% mark, now resting at 47%, intensifying selling pressure and a growing pessimistic sentiment for the digital asset. $0.0914 In Sight: Will This Key Support Level Hold? Exploring the significance of the $0.0914 support level and its potential to withstand bearish pressure reveals that if the price reaches this level and breaks below, the crypto asset will continue to move downward toward the $0.0745 support. Should the price fall through this level, it may drop to test the $0.0559 support mark and potentially move lower to explore additional support levels. However, if DOGE reaches the $0.0914 support range and bulls stage a comeback, the price could climb toward the $0.1293 resistance level. When it breaks through this resistance, the cryptocurrency may continue to rise, possibly targeting the $0.1491 resistance range and other higher levels. Featured image from iStock, chart from Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":637987,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[89099],"tags":[92835,1785,7,79599,79600,16393,14763,91599,85676],"class_list":["post-637986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-doge","tag-bearish-candlesticks","tag-doge","tag-dogecoin","tag-dogeusd","tag-dogeusdt","tag-relative-strength-index","tag-rsi","tag-simple-moving-average","tag-sma"],"acf":[],"yoast_head":"\nDogecoin Set For A Drop: Bearish Forces Eye $0.0914 Target<\/title>\n<meta name=\"description\" content=\"Dogecoin (DOGE) recent attempt to regain upward momentum has been abruptly halted as bearish forces reassert their dominance.\" \/>\n<meta name=\"robots\" content=\"index, follow, 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I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They\u2019ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won\u2019t trade them for anything else in this world. I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments. When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency. Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.","sameAs":["https:\/\/x.com\/NFTwerey"],"url":"https:\/\/wncen.com\/author\/godspowerowie\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Set For A Drop: Bearish Forces Eye $0.0914 Target","url":"http:\/\/wncen.com\/analysis\/doge\/dogecoin-set-for-a-drop-to-0-0914\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/analysis\/doge\/dogecoin-set-for-a-drop-to-0-0914\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/08\/Dogecoin-from-iStock-2.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/08\/Dogecoin-from-iStock-2.jpg?fit=612%2C434"},"articleSection":"DOGE","author":[{"@type":"Person","name":"Godspower Owie"}],"creator":["Godspower Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bearish candlesticks","doge","dogecoin","dogeusd","dogeusdt","relative strength index","rsi","simple moving average","sma"],"dateCreated":"2024-08-27T19:00:14Z","datePublished":"2024-08-27T19:00:14Z","dateModified":"2024-08-27T19:00:14Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Set For A Drop: Bearish Forces Eye $0.0914 Target\",\"url\":\"http:\\\/\\\/wncen.com\\\/analysis\\\/doge\\\/dogecoin-set-for-a-drop-to-0-0914\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/analysis\\\/doge\\\/dogecoin-set-for-a-drop-to-0-0914\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Dogecoin-from-iStock-2.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Dogecoin-from-iStock-2.jpg?fit=612%2C434\"},\"articleSection\":\"DOGE\",\"author\":[{\"@type\":\"Person\",\"name\":\"Godspower Owie\"}],\"creator\":[\"Godspower Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bearish candlesticks\",\"doge\",\"dogecoin\",\"dogeusd\",\"dogeusdt\",\"relative strength index\",\"rsi\",\"simple moving average\",\"sma\"],\"dateCreated\":\"2024-08-27T19:00:14Z\",\"datePublished\":\"2024-08-27T19:00:14Z\",\"dateModified\":\"2024-08-27T19:00:14Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/08\/Dogecoin-from-iStock-2.jpg?fit=612%2C434","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/637986"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/608"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=637986"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/637986\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/637987"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=637986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=637986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=637986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}