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Key Takeaways:
- DOGE dropped 12.7% in 24 hours, falling from $0.26 to $0.2325.
- Resistance at $0.24 remains strong, with technical indicators turning bearish.
- Macroeconomic uncertainty and Fed policy are amplifying crypto market fear.
Dogecoin (DOGE), the original meme coin, just took a sharp downturn — falling from $0.26 to $0.2325 in less than a day. The 12.7% decline has shaken investor confidence, especially after DOGE’s powerful rally earlier this month. As technical and macro headwinds mount, the question becomes: was this just a healthy correction, or a warning of deeper losses ahead?
DOGE dumped 11% as big money exits. Buyers stepped in at $0.23, but $0.24 is proving tough to crack. Resistance holding strong for now. pic.twitter.com/44dNSKPRZ2
— Posedion Space (@PosedionSpace) July 24, 2025
DOGE’s July Rally Stalls at Critical Resistance
Earlier in July, Dogecoin broke out of its long-term sideways range, rising from $0.17 to a peak of $0.26 — a 78% surge. The rally was turbocharged by a $500 million Dogecoin treasury allocation by Bit Origin Ltd., sparking renewed enthusiasm and bullish price targets.
Traders eyed $0.25 as a key psychological level, with hopes of pushing further toward $0.33 and $0.40. But as quickly as the momentum arrived, it faded. The price fell back below $0.24, with buyers unable to break through strong resistance. A tweet from analyst @PosedionSpace confirmed that big money had exited, and support now sits tentatively at $0.23.
Technical Weakness Emerges as Bulls Lose Steam
The technical picture has turned bearish. The Relative Strength Index (RSI) dipped, suggesting weakening momentum. Moving averages have started curling downward, a classic sign of trend exhaustion. According to crypto analyst Ali Martinez, holding the $0.25 neckline was crucial — and DOGE’s failure to maintain that level could signal a broader correction.
This price rejection has triggered a wave of short-term selling, especially from momentum traders and weak hands who rushed in during the hype phase.
Broader Market Uncertainty Pressures Altcoins
Beyond Dogecoin’s internal dynamics, broader macroeconomic uncertainty is also playing a major role. The U.S. Federal Reserve remains ambiguous about future interest rate cuts, while global trade tensions are rising. This has led to a “risk-off” environment, with investors pulling capital from speculative assets — including altcoins.
Also Read: Dogecoin Price Dips as Investors Take Profits — Can Long-Tetrm Holders Spark a Recovery?
DOGE’s double-digit drop isn’t happening in isolation. The entire altcoin market is showing signs of stress, with many tokens facing pullbacks amid fears of tighter monetary policy and shrinking liquidity.
With DOGE currently trading at $0.2325 and struggling to reclaim $0.24, traders are split on what’s next. Bulls see a dip-buying opportunity near $0.23. Bears believe the rally is over and that DOGE may return to its previous range near $0.21 or lower.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
