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Dogecoin Price Could Bounce Very Quickly If This Happens At $0.166

Source Newsbtc

The Dogecoin price has generally followed the trajectory of other altcoins relative to Bitcoin and has seen deeper declines compared to the pioneer cryptocurrency. These declines have left the leading meme coin by market cap in the red, pushing it back down to levels not seen since 2023. As a result, the Dogecoin price is now in a precarious position where it needs to make a major move or DOGE investors risk more decline as the altcoin struggles to find support.

Next Trajectory For The Dogecoin Price

Bitguru, in an analysis on X, outlined where the Dogecoin price is and what could determine the next move for the cryptocurrency. This all comes back to a critical level that would send the price in either direction, making it the point where both bulls and bears are now fighting for dominance, and this level is at 0.166.

As the crypto analyst explains, the Dogecoin price has been in a clear downtrend already, and there has been no indication that it will actually pull out of this soon. If anything, sideways movement has been the order of the day, and catalysts that could trigger another rally have not been forthcoming.

It so happens that the Dogecoin price ended up being rejected at $0.1823, which has been established to be a major high for the digital asset. Hence, it puts the sellers in control once again as the price moves toward $0.166. This $0.166 level lies above the major support at $0.16, meaning that it is imperative for bulls to actually reclaim and hold it.

Another problem that the digital asset is facing at this point is that it continues to form lower highs. Naturally, this is a bearish development for any cryptocurrency as it means that buyers are weakening and sellers are gaining control in the market. If these lower highs continue, then it could see further decline for the Dogecoin price as opposed to a possible recovery.

The Dogecoin price did try to rebound over the weekend, but was ultimately pushed back down as the Bitcoin price struggled at $95,000. Now, reclaiming the $0.166 is the next major task for bulls if the meme coin is to continue its ascent.

In the event of a failure to reclaim $0.166 with momentum, then the Dogecoin price could correct lower. As the decline deepens, the next major support level lies firmly at $0.15, where there could be a wave of buying to trigger a short-term rise.

Dogecoin price chart from Tradingview.com

Disclaimer: For information purposes only. Past performance is not indicative of future results.

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Author Mitrade

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Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.

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