{"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 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>\nMarket Sentiment: Bears Tighten Grip On Dogecoin<\/strong><\/h2>\n