DOGE’s Plunge: A Canine Comedy of Errors!

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Ah, behold the tragicomic tale of Dogecoin, that whimsical hound of the financial realm, now sinking below the $0.10 threshold! Alas, poor DOGE, consolidating its losses like a miser counting copper coins. What hurdles await thee at $0.0950 and $0.10? The fates, it seems, have turned their backs on this once-barking marvel.

  • Lo! The DOGE, once proud, now descends below the $0.10 mark, a fall as swift as a jester’s tumble.
  • Behold, it trades beneath the $0.10 level and the 100-hourly simple moving average, a chart as dreary as a rainy day in Paris.
  • A bearish trend line doth form, with resistance at $0.0950, a barrier as stubborn as a mule on the hourly chart of the DOGE/USD pair (courtesy of Kraken, that sea monster of data).
  • Should it linger below $0.0880 and $0.0850, further woes shall ensue, a tragedy in three acts.

Mark well, dear reader, how Dogecoin’s price, like a wayward knight, plunged below the $0.1120 fortress, following in the footsteps of Bitcoin and Ethereum. Below $0.10 and $0.0950 it fell, a descent as inevitable as a Molière farce.

Even $0.0850 could not hold it, and a low was formed near $0.080, a pitiable sight indeed. A brief recovery wave above $0.0840 did appear, climbing past the 23.6% Fib retracement level, but alas, it was but a fleeting jest.

Now, our poor DOGE trades below $0.0950 and the 100-hourly simple moving average, with a bearish trend line at $0.0950, a wall as impenetrable as a miser’s heart.

Should a recovery wave arise, the first resistance lies near $0.090, a mere whisper of hope. The next hurdle, at $0.0950, stands like a guardian at the gate, with the trend line as its companion. Beyond lies $0.09850, or the 61.8% Fib retracement level, a challenge as daunting as a duel with a dragon.

Dogecoin Chart

A close above $0.0985 might propel it toward $0.1050, and further gains could lead to $0.1120. But fear not, for the next stop for the bulls may be $0.120, a summit as lofty as a poet’s dream.

Yet, should DOGE fail to rise above $0.10, another decline awaits. Initial support lies at $0.0850, with the next at $0.0820. The main support, at $0.080, stands firm, but a break below $0.0750 could spell further doom, a slide to $0.0720 or even $0.070, a fate as grim as a tragedy’s final act.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD gains momentum in the bearish zone, a harbinger of sorrow.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD now lingers below 50, a sign of weakness most profound.

Major Support Levels – $0.0865 and $0.0800, fortresses against the tide.

Major Resistance Levels – $0.0950 and $0.0985, barriers as stubborn as a Molière character’s folly.

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2026-02-06 08:48