Dogecoin (DOGE) Uptrend Officially Over? Price Loses Key Support
2025-02-07
Category: None

Dogecoin's recent strong uptrend may be coming to an end as it has officially broken below important support levels. After a spectacular surge in late 2024 and early 2025, the meme coin has now lost more than 40% of its peak of Jan. 17, casting doubt on its bullish momentum.
DOGE has dropped below two important indicators that usually act as dynamic support levels during an uptrend: the 50 EMA ($0.31) and the 100 EMA ($0.26). The 200 EMA is now the last line of defense, as the price has dropped to $0.24 due to the breakdown of these levels, which has increased bearish momentum. DOGE may experience prolonged downward price action if this level does not hold. DOGEUSDT Chart by TradingView">
Support breach: DOGE lost several crucial support zones that had previously enabled it to keep climbing. 
Lower highs and lower lows: A change in structure suggests a downward trend on the market.
Weakening volume profile: The most recent attempt at recovery has been greeted by a drop in buy-side volume, indicating a lack of strong bullish sentiment. At about $0.24, the 200 EMA serves as the last line of support, putting DOGE at risk of fully exiting an uptrend.
While a complete reversal is unlikely in the near future, a bounce from this level might offer a brief recovery toward the $0.26-$0.28 range. A further breakdown might push DOGE toward $0.22 and perhaps $0.20, the levels last observed prior to its huge breakout in November 2024, if selling pressure persists.
Although Dogecoin has experienced significant recoveries in the past, the current corrections structure points to a different outcome this time. Multiple EMA losses, a drop of more than 40% from the peak and waning momentum all suggest that DOGE's robust uptrend is probably coming to an end. 