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Dogecoin Faces Deeper Losses as Bearish Patterns Take Hold
June 2, 2025 20:00 2 min. readWe may earn commissions from affiliate links or include sponsored content, clearly labeled as such. These partnerships do not influence our editorial independence or the accuracy of our reporting. By continuing to use the site you agree to our terms and conditions and privacy policy.
Dogecoin is under pressure after shedding over a quarter of its value since reaching $0.19 in May, with technical indicators suggesting the downturn could intensify in the coming weeks.
The memecoin has slipped into bearish territory after forming a classic double top—a chart pattern often viewed as a warning of trend reversal. The neckline for this pattern was breached at $0.2113, marking a breakdown point that reinforces the bearish outlook.
Compounding the issue is the loss of support from both the 50-day and 100-day Exponential Moving Averages, adding to downward momentum. DOGE is also shaping what appears to be a bearish flag—a short-term continuation pattern that could signal further selling pressure.
If the current trajectory holds, analysts are eyeing a potential drop toward $0.13, a level not seen since April. A fall below that could open the door to even steeper declines, with the next major support zone sitting around $0.08057—last touched in August 2023—representing a possible 57% slide from current levels.
Adding to the bearish case is on-chain data showing large holders trimming their positions, suggesting that whales may be exiting amid growing uncertainty. All signs point to a market where buyers are becoming increasingly hesitant, and sellers are starting to take control.
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