According to overseas cryptocurrency media outlet Coingape, Dogecoin (DOGE) is currently trading below all major Exponential Moving Averages (EMA), showing a continued bearish trend.

According to Coingape citing CryptoQuant data, approximately 1.2 billion dollars worth of meme coins have been sold on the Binance exchange since October 2025. Analyst Darkfost analyzed that traders continue to sell meme coins, considering them the riskiest assets within the cryptocurrency market.

Due to this selling pressure, the price of Dogecoin plummeted from 0.26 dollars in October 2025 to around 0.07 dollars recently on the 14th (local time). This represents a 73% decline over approximately eight months, a steeper drop compared to Bitcoin, which fell 50% during the same period.

However, positive variables are also emerging in the market. Coingape reported that investor interest in meme coins has been reviving since the launch of the Robinhood chain. In fact, CashCat (CASHCAT), a token based on the Robinhood chain, recorded a market capitalization of 138 million dollars immediately after its launch on July 1 (local time). Additionally, as the U.S. inflation rate lowered to 3.5%, expectations that the U.S. Federal Reserve (Fed) is less likely to raise interest rates further improved risk asset investment sentiment, and Dogecoin also showed signs of a rebound.

However, Darkfost warned that if buying pressure does not continue consistently, Dogecoin's long-term outlook could remain bearish, and this rebound may not last long.

Technical indicators also suggest a bearish trend. Dogecoin is currently trading below the 50-day, 100-day, and 200-day EMAs, indicating that the market trend is tilted in favor of sellers. Dogecoin, currently trading near the 0.071 dollar support level, is expected to decline further to 0.069 dollars, the low of June 30 (local time), if it closes below this support level.

The Relative Strength Index (RSI) stands at 41, still indicating a bearish market, which supports the likelihood of an additional decline to 0.069 dollars. However, if the RSI rises and forms a high above 50, the bearish outlook could lose momentum. In that case, there is also a possibility that Dogecoin could rise to the 50-day EMA of 0.082 dollars.

Coingape added that on the daily chart, there is a possibility that a 'W pattern,' which indicates an upward trend, could form if Dogecoin rebounds from the 0.071 dollar support level. If this pattern is completed, Dogecoin is expected to break through the first resistance level of 0.079 dollars, the high of July 4 (local time), and rise an additional 10% to 0.0869 dollars.

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