Key Takeaways
- Price action suggests that Dogecoin (DOGE) could see a 20% move and may reach the $0.189 level.
- The DOGE long/short ratio indicates that traders have a strong bearish outlook.
- The major liquidation levels for DOGE are $0.2332 on the lower side and $0.2544 on the upper side.
The consecutive red candles in Dogecoin (DOGE) on the daily chart are raising alarms for meme coin holders. Derivative tools, market sentiment, and DOGE’s current price action hint that a major price crash may be on the horizon. Today, DOGE has dipped 4.10% and is hovering at $0.237, a level that intersects the support of an ascending trendline and could trigger a massive price drop if the downward momentum continues.
Dogecoin (DOGE) Technical Outlook and Upcoming Levels
TimesCrypto technical analysis reveals that DOGE is in an uptrend, but it is currently at risk. On the daily chart, DOGE appears to be moving within an ascending channel pattern that it has been following since June 2025, between the upper and lower boundaries. With the recent price dip, the meme coin has now reached the lower boundary. Historically, whenever DOGE reaches the lower boundary, it experiences a significant price uptick. However, this time, as selling pressure intensifies and the price continues to decline, it appears that it could break this support.
Based on the current price action, if the downward momentum continues and the price fails to hold the ascending trendline support, a massive 20% price dip could occur, potentially reaching the $0.189 level. However, a reversal would only be possible if the price holds above the trendline. At press time, the Supertrend indicator continues to show a red trend above the DOGE price, indicating that the meme coin is in a downtrend. Meanwhile, the Average Directional Index (ADX) stands at 17.77, below the key threshold of 25, indicating weak directional momentum.
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DOGE Derivative Flashes Red Signal
Adding to the bearish sentiment, the derivative tool Coinglass supports the same outlook. According to Coinglass’s DOGE long/short ratio, which flashes a red flag at 0.93, there is strong bearish sentiment among traders.
Meanwhile, traders have been heavily betting on the bearish side. According to the DOGE Exchange Liquidation Map, the meme coin’s major liquidation levels stand at $0.2332 on the lower side (support) and $0.2544 on the upper side (resistance).
At these levels, traders have built $15.56 million in long positions and $89.96 million in short positions, betting that the price will not cross the $0.2544 level in the future. When combining this derivative data with Dogecoin price action, it appears that bears are dominating the meme coin and strongly believe that the price could continue its downward trend.
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