DOGECOIN, the original memes piece, experienced a sharp drop, falling to $ 0.225 per room after a drop of 7% in the last 24 hours.
The price fell up to $ 0.2239, approaching its lowest point of 2025. During last week, Doge lost almost 18% of its value, making it one of the best crypto -Shews the most efficient.
Crypto analyst Ali Martinez, who previously predicted a price target of $ 4 for Dogecoin, now warns that the part could drop more if it loses a level of key support.
“Can Dogecoin follow Pepe? If so, could a ventilation less than 0.31 trigger a correction to $ 0.20 for Doge!” Martinez wrote on X.
He too sharp The network activity has fallen at its lowest level since October 2024, with only 66 whale transactions and less than 60,000 addresses active per day.
Despite the recent slowdown, Martinez suggests that if Dogecoin maintains a key level of support, he could see another rally.
“Dogecoin has been negotiated in an ascending channel since 2014. Dogecoin has tended to bounce from the lower support line of this channel to the resistance trend line. From this level, he tends to return to the support line of support, then to bounce back again, repeating the whole cycle, “he explained.
“Dogecoin has recently rebounded the support line of support. If history is repeated as long as Dogecoin is above 19 cents, it could come together at the resistance trend line at around $ 4,” -It added.
Dogecoin flew high a few months ago after the billionaire entrepreneur Elon Musk was rekindled the interest of the memes play. In December, DOGE reached a summit of $ 0.48 over three years, but it has since decreased significantly.
DOGE remains the eighth largest cryptocurrency by market capitalization but fought alongside the wider market of coins.
The Coingecko data show that almost all the tokens of major memes can be found in the red. Shiba Inu (Shib) is down 9% in the last 24 hours, while Pepe (Pepe) and Bonk (Bonk) have lost more than 14% each.
Adding to the lower prospects, an open interest for Dogecoin fell to only $ 2.16 billion, the lowest level of the year, depending on Coiinglass. This suggests that traders lose confidence in the ability of the play to bounce back.
Dogecoin remains an important part of Musk’s influence in cryptographic space. The billionaire, who formerly fueled his gatherings with tweets, now leads a department of the United States government called the Ministry of Government, or Doge.