Key Insights
- Dogecoin price has dropped by 37.86% since January 18, 2025.
- DOGE price has grabbed the liquidity below the 200-day EMA.
Dogecoin (DOGE) price has displayed a massive bull run on a wider time frame. However, the bullish rally was interrupted near the $0.46 level and sellers took over the charge.
The memecoin has witnessed a broader correction since mid-January. Amid this correction, Dogecoin price has lost the key moving averages.
Dogecoin Price Experiences Massive Sell-off
Notably, Dogecoin’s price has dropped by roughly 40% since the middle of January, when there was a lot of volatility in the entire cryptocurrency market.
Numerous digital assets have been struggling similarly, and the decline has been a part of a broader pattern of volatility in the altcoin space.
As a result, investors in Dogecoin are extremely cautious about the cryptocurrency’s chances for future growth due to market corrections and the recent sharp price decline.
Recent price drops, according to analysts, are only temporary until the larger cryptocurrency market stabilizes.
Is it the Final Dip for DOGE Crypto?
Dogecoin crypto was trading at $0.258 at press time which has dropped by 2.19% over the past 24 hours. The market capitalization was $38.3 Billion and the 24-hour trading volume was $2.08 Billion.
Based on the technical chart, the DOGE price has displayed sharp selling in the past few weeks. Furthermore, the price has formed a base near the $0.24 territory and has started consolidating.
Amid this fall, the price has dropped below the 200-day EMA but received mild elevation and exceeded the 200-day EMA.
Recently, the price has smashed the 200-day EMA which might attract buyers. According to the technical chart, the price is oversold and buyers could participate.
Here, buying pressure could initiate a bullish trend. If the investors show confidence in this dip, strong buying pressure can be seen.
On the other hand, if the price dives below the support level of $0.24, it could be a selling opportunity. Suppose the price sustains below this level, a bearish momentum can be anticipated.
DOGE Season Not Over Yet, Rally Incoming?
Alan Doge is a trader who claims that despite the current retracement period, the price of Bitcoin is still in a bull market.
Historical data from prior bull runs demonstrates that this cryptocurrency’s value increased significantly after price corrections.
Alan refers to this time frame as the “DOGE season” since Dogecoin frequently sees sharp price increases after brief dips.
Additionally, Alan’s historical data shows that Dogecoin’s bullish long-term outlook is not permanently harmed by short-term price difficulties.
The trader contends that Dogecoin is presently experiencing a brief decline and that, should history repeat itself, a comeback may be on the horizon.
Alan says it’s important to spot the trend and capitalize on the state of the market before Dogecoin launches its next big surge.
DOGE Price Analysis Amid this Dip
Despite the recent decline in Dogecoin’s price and the broader market volatility, analysts suggest that this may be a temporary setback.
The cryptocurrency appears to have established a support level around $0.24 and has shown signs of consolidation, indicating potential for a bullish reversal if buying pressure increases.
Historical patterns point to the possibility of significant recovery beyond current corrections, suggesting that the so-called “DOGE season” could still be imminent.
Investors are advised to remain cautious yet optimistic, keeping an eye on market trends to potentially capitalize on future gains as Dogecoin navigates through this dip.
