The memecoin, long tied to Elon Musk’s influence, is under pressure after being left out of X’s 2025 crypto integration roadmap and suffering a series of technical breakdowns.
Primary Catalyst: Dogecoin Excluded from X’s Crypto Roadmap
A leaked Financial Times report on X’s “Super App” strategy revealed crypto payment integration plans powered by Visa but made no mention of Dogecoin. This omission came as a surprise to the market, given Elon Musk’s historic promotion of DOGE on the platform. The absence has fueled speculation that Dogecoin may not play a central role in X’s fintech ecosystem, triggering a wave of sell-offs.
Technical Breakdown: Bearish Momentum Deepens
Dogecoin has now broken below several critical technical levels:
- 10-day SMA: DOGE is trading below the short-term average of $0.176, showing near-term weakness.
- 50-day SMA: Breached the more important medium-term average at $0.201, confirming a shift to bearish momentum.
- RSI: The 14-day Relative Strength Index sits at 31.94, signaling oversold conditions but offering no bullish divergence to suggest reversal.
One of the last remaining support zones is the $0.159 swing low, which aligns with the 78.6% Fibonacci retracement level from the previous rally. If this level fails, Dogecoin could potentially fall toward $0.14, a zone last visited in April and May 2023.
Broader Market Context: Risk-Off Sentiment Hits Altcoins
Dogecoin’s decline also mirrors wider altcoin weakness:
- Bitcoin dominance rose to 64.4%, siphoning capital away from memecoins and speculative assets.
- The Crypto Fear & Greed Index dipped to 43 (Neutral), indicating growing investor caution.
- Trading volume surged 11% to $832 million, but the spike appears to reflect panic selling, not accumulation.
How Low Can DOGE Go?
If current bearish pressure persists and the $0.159 level is decisively broken, Dogecoin could target:
- $0.148 – psychological round number and past support
- $0.136–0.140 – final demand zone before entering early 2023 price territory
Unless sentiment improves or a bullish catalyst emerges—such as renewed endorsement from Elon Musk or unexpected utility in X’s ecosystem—DOGE may struggle to reclaim lost levels in the short term.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/market/dogecoin-price-drops-below-key-levels-how-low-can-it-go/