Dogecoin sinks below $0.10 as death cross confirmed — Is DOGE headed to $0 or $0.31?
Dogecoin (DOGE) fell below $0.10 after a seven-day liquidation that pushed the meme coin to a new local low and confirmed a death cross: the 9-day moving average crossing below the 21-day moving average. The article highlights capitulation among weak hands but notes early signs of a technical reset: a bounce from the 2024 $0.08 support, a sharp RSI reversal from oversold, and the MACD approaching a bullish cross. Key resistance to watch is the January peak near $0.15; a decisive breakout there could validate a bullish pattern targeting a potential 200% move to $0.31. Social catalysts remain relevant — Elon Musk reiterated his support for Dogecoin and confirmed the DOGE-1 lunar mission remains planned, which historically has driven retail inflows. The piece also mentions the rise of new Doge-inspired tokens (example: $MAXI) as thematic competition for retail capital during bull runs. For traders: near-term downside risk increased after the death cross and the sub-$0.10 breakdown; however, technical oversold conditions and social catalysts could spark short squeezes or a rebound if DOGE reclaims $0.15. Monitor moving averages (9-, 21-day), RSI, MACD, $0.08 support, and $0.15 resistance for trade signals, and watch for retail-driven volume spikes tied to publicity events.
Bearish
The confirmed death cross and a breakdown below $0.10 increase short-term bearish pressure: moving-average alignment signals momentum has shifted lower, and the recent liquidation shows weak hands were removed. Historically, death crosses often coincide with extended corrective phases or heightened volatility. However, mitigating factors limit an outright descent to zero: DOGE holds a structural support at ~$0.08, RSI shows oversold reversal, MACD is nearing a bullish cross, and strong social catalysts (Elon Musk and the DOGE-1 mission) have previously driven retail inflows and sharp rebounds. Short-term trading implications: elevated downside risk and potential for continued volatility — favor risk-managed short positions, tighten stops on long exposure, or look for dip-buy setups if DOGE reclaims $0.15 with volume confirmation. Longer-term implications: unless broader market liquidity collapses, DOGE is unlikely to go to zero due to its community, retail interest, and periodic social-driven demand; but market leadership could shift to new meme tokens, diluting DOGE’s upside in future bull cycles. Monitor on-chain and volume metrics, moving averages, and headline catalysts for trade timing.