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CoinDesk 2025-06-05 06:02:12

Dogecoin Struggles to Reclaim $0.19 Threshold as Bearish Sentiment Persists

Dogecoin Struggles to Reclaim $0.19 Threshold as Bearish Sentiment Persists

Dogecoin DOGE fell as much as 4.3% over the past 24 hours, dropping from $0.196 to $0.189 as profit-taking continues across majors. The meme-inspired token broke below key support at $0.194 during heavy selling between 11:00-14:00, establishing a new resistance zone while finding a temporary bottom at $0.187. News Background Dogecoin’s price struggles come amid a shifting landscape in the meme coin sector and a general capital preference for stablecoins or bitcoin. Recent whale transfers have moved significant DOGE amounts to major exchanges, sparking speculation about potential sell-offs or accumulation phases. On a broader scale, geopolitical tensions and inflation concerns continue to impact investor sentiment across risk assets, with cryptocurrency markets particularly sensitive to global trade policy shifts. These macroeconomic headwinds are keeping DOGE on the defensive as traders search for signs of a sustainable reversal. Price-Action According to CoinDesk Research’s technical analysis model, DOGE’s price action now consolidates between $0.188 and $0.190, with some technical indicators suggesting potential exhaustion of sellers after the high-volume flush at the $0.187 level. Analysts are watching the descending triangle pattern forming on the charts, as its resolution could dictate DOGE’s next move. While some traders have noted a series of higher lows after DOGE hit $0.188 around 01:50, any recovery attempts have so far lacked conviction. The token’s inability to reclaim the $0.19 threshold underscores persistent market caution, particularly with broader risk assets under pressure from ongoing trade disputes and inflation concerns. Technical Analysis Recap DOGE declined 4.3% from $0.196 to $0.189 over the past 24 hours, with a price range of $0.010 (5.1%). Key support at $0.194 was broken on above-average volume, establishing a new resistance zone. A temporary bottom formed at $0.187 during the 20:00 hour, with the day’s highest volume of 223M suggesting potential seller exhaustion. DOGE consolidated between $0.188 and $0.190, showing weak recovery attempts. A small rally occurred between 02:00-02:01, where DOGE climbed 0.18% on increased volume. Higher lows formed after 01:50 indicate some short-term bullish sentiment, but broader bearish momentum persists. Disclaimer: Portions of this article were generated with the assistance of AI tools and reviewed by CoinDesk’s editorial team for accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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