Dogecoin is holding on to key support after a sharp 36% decline from its September high. The chart shows growing bearish signals. Analysts are warning of a death cross, in which the 50-day EMA crosses below the 200-day EMA.
This technical event often marks deeper sell-offs, and many traders now wonder if even Musk’s influence can rescue DOGE from another major slide.
Dogecoin at a Crossroads as Selling Pressure Builds
DOGE could fall another 22% to $0.1515 if it fails support, with the worst-case scenario seeing it fall to $0.0052. The chart for the week is showing a bearish flag. This means the downtrend is far from over.
Source: Tradingview
The Dogecoin price is currently at $0.1960. Large holders sold more than 2 billion DOGE —worth more than $400 million —in just two days, BeInCrypto reported. This aggressive distribution hints that institutional investors remain unconvinced, even after the launch of the REX-Osprey DOGE ETF, which debuted in September with $30.7 million in assets. The ETF’s limited inflows, compared to XRP’s far stronger debut, underscore skepticism around Dogecoin’s long-term prospects despite Musk’s continued public support.
Technical Setup and Critical Support Zones
Analysts say Dogecoin’s price action is now testing critical levels between $0.17 and $0.18, an area identified as a historical demand zone. TradingView analyst Frank Agbo notes that this zone has triggered multiple rebounds in the past and could do so again, attracting buyers seeking a short-term recovery.
Source: FrankAgbo
Agbo’s plan remains simple: “Wait for confirmation before entry. If DOGE breaks below $0.17 with volume, the setup fails.” For now, the RSI suggests oversold conditions, and a bounce to $0.26 or even $0.27 remains possible if bulls can defend the green zone.
However, the looming death cross adds uncertainty — reinforcing that the subsequent few sessions will determine whether Dogecoin stabilizes or spirals further. No discussion about Dogecoin is complete without Musk’s name. Some traders argue that Musk’s backing through X (formerly Twitter) integration and potential payments use cases could revive DOGE’s utility narrative.
Remittix: Real Utility in a Speculative Market
While Dogecoin’s outlook hangs in the balance on speculation and Musk’s tweets, Remittix (RTX) focuses on real-world use. The PayFi project lets users send crypto-to-bank transfers in 30+ countries, bridging blockchain and traditional banking. Its wallet beta is live, providing real-time FX conversions for global users.
Remittix has raised over $27.7 million, sold 678 million tokens, and is CertiK verified, ranked #1 among pre-launch tokens. BitMart and LBank listings are confirmed. RTX stands out as a utility-driven crypto amid meme-fueled volatility. The project shows how blockchain can deliver tangible financial solutions.
Can Dogecoin Rebound If Musk Steps In Again?
Dogecoin’s short-term fate depends on whether buyers defend $0.17–$0.18. A bounce could target $0.26, while a confirmed break lower might invite panic selling. Musk remains the biggest wildcard as one viral post could flip sentiment overnight.
Still, as the crypto market matures, projects like Remittix illustrate the shift from speculation to service. Whether Musk tweets or not, the next era of crypto will favor tokens that do more than entertain; DOGE must decide which side of that line it wants to stand on.
Discover the future of PayFi with Remittix by checking out their project here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
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Source: https://coindoo.com/dogecoin-death-cross-hints-at-possible-60-drop-can-elon-musk-save-doge/