Dogecoin (DOGE), the original meme coin, is facing renewed selling pressure as the broader crypto market trends downward. On June 21, DOGE saw a notable drop of 3,57%, trading at $0,1636 at press time, according to the latest market data. This decline puts DOGE below key resistance levels and raises questions about its short-term direction .
Current Market Snapshot
DOGE attempted to break above the local resistance at $0,1642 but failed to sustain momentum. Technical analysis suggests that if the daily candle closes well below this mark, the price could soon test the next support zone around $0,16. On the broader time frame, traders are watching the mirror level at $0,1639. A failure to reclaim this level could signal further downside, with the $0,16 area acting as the next line of defense .
Midterm Perspective
From a midterm viewpoint, DOGE is currently breaking below the $0,1667 support. If bearish sentiment persists and sellers maintain control, the coin could continue its downward trajectory into the coming week. However, analysts note that DOGE’s price is expected to remain within a relatively tight range for June, with most forecasts suggesting a floor near $0,16 and a potential rebound toward $0,169 if market sentiment improves .
What’s Next for DOGE?
• If DOGE fails to break and hold above $0,1642, expect a possible retest of the $0,16 support.
• Sustained trading below $0,1639 could open the door for further declines.
• On the upside, a successful recovery above resistance could see DOGE aiming for $0,169 in the short term .
For those tracking meme coin trends, Dogecoin’s current price action highlights the importance of key technical levels. As always, investors should monitor broader market signals and consider risk management strategies.
