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Dogecoin Struggles to Reclaim $0.19 Threshold as Bearish Sentiment Persists
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Shaurya Malwa
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By Shaurya Malwa, CD Analytics|Edited by Parikshit Mishra
Jun 5, 2025, 6:02 a.m.
- Dogecoin fell 4.3% in the last 24 hours, breaking key support and establishing a new resistance zone.
- Recent whale transfers and macroeconomic factors like geopolitical tensions and inflation are influencing DOGE’s market performance.
- Technical analysis shows DOGE consolidating between $0.188 and $0.190, with weak recovery attempts amid broader market caution.
Dogecoin
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.
STORY CONTINUES BELOW
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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.
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.
All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.
CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.
