Dogecoin fails to keep up with altcoin rally | Credit: Hameem Sarwar
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Key Takeaways
DOGE is stuck in a symmetrical triangle, failing to break resistance at $0.24.
The BBP is in negative territory, and the price remains below the 20 EMA.
DOGE could slide toward $0.15; however, a breakout could send it much higher.
Dogecoin (DOGE) continues to lag behind the broader altcoin market. At press time, DOGE trades at $0.22, down 32.50% year-to-date (YTD) despite gains in several other cryptocurrencies.
Looking ahead, a potential September rate cut could act as a catalyst for a broader crypto rebound. While many altcoins could print new highs before then, the memecoin’s technicals and on-chain data suggest a more muted performance.
Here’s why DOGE’s breakout may lag behind the pack.
Instead, DOGE risks slipping below the triangle’s lower trendline, where support sits at $0.22.
The weakness is reinforced by the declining Bull Bear Power (BBP). At press time, the BBP has fallen to -0.016, confirming that sellers currently hold the upper hand and reducing the chances of a bullish breakout in the short term.
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Amid this setup, the Bollinger Bands (BB) have expanded, signaling heightened volatility in DOGE’s market.
When the bands widen, it typically means that the price is primed for an accelerated move.
In this case, volatility could push DOGE in either direction — a breakdown below support could trigger a decline, while a surprise breakout above resistance could fuel an equally swift rally.
With bears holding the upper hand, Dogecoin’s price could slip below the $0.20 mark. Analysts on X have pointed out that DOGE now sits at a tipping point, where the next move could determine its short-term trajectory.
For example, Pakistani crypto analyst Muhammad Imran highlighted $0.20 as the critical support level that could either hold and spark a rebound or collapse and trigger another decline.
In his view, this zone will “make or mar” DOGE’s next big move
“DOGE is trading at 0.2177. Immediate support lies around 0.2074–0.2077, which will be crucial for holding the trend. A bounce from here could retest 0.2395, with stronger resistance near 0.2466. Failure to hold support may extend the decline toward 0.2004,” Imran posted.
DOGE Price at Tipping Point
The daily DOGE/USD chart shows that the cryptocurrency has fallen below the 20-period Exponential Moving Average (EMA).
With the 20 EMA acting as resistance and sellers holding control, DOGE’s price may continue consolidating or drift lower unless buying volume ramps up.
By the look of things, bears might pull Dogecoin down to $0.19. If bulls fail to defend this level, the price might slide to $0.15.
On the contrary, if the BBP turns positive and trading volume increases, this prediction might be invalidated. In that scenario, Dogecoin’s price might bounce to $0.31.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
