Dogecoin is showing worrying signs in its technical analysis, potentially signaling the end of the recent price increase it experienced in April and early May. A specific pattern called a mini death cross is beginning to appear on daily charts, adding to these concerns.
A ‘death cross’ is a signal that an asset’s price might start falling. It happens when a short-term average of its price drops below a longer-term average. Even though Dogecoin’s long-term trend hasn’t changed, traders are watching a recent crossover of its shorter-term averages closely, especially since it happened right after the price tried – and failed – to break out to a higher level.
Dogecoin losing positions
DOGE recently jumped above $0.11, leading some to believe it was building momentum to overcome future challenges. However, that progress didn’t last, and the price has since dropped back towards the $0.10 level after failing to stay above its 50-day moving average.
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Dogecoin’s technical structure is weakening. It’s currently trading below its 20-day and 50-day moving averages, and these averages are getting closer together. If the shorter-term average falls below the longer-term average, it could signal further price declines, potentially leading traders focused on quick profits to sell even more.
Volume get thin
The drop in trading volume also indicates weakening interest in DOGE. When the price was going up, more people were buying, pushing volume higher. But since the price started to fall, fewer people are participating, suggesting that buyers are less eager to push prices up further.
Looking at the Relative Strength Index, or RSI, I’m seeing a similar story. It’s currently around 40, which suggests momentum is slowing down, but we haven’t hit oversold levels yet. This means there’s still room for the price to fall further before I’d expect to see strong buying interest from traders looking for a bargain.
The key support level to watch remains around $0.10. If the price falls below this point, it would confirm a weakening trend and likely lead to further price declines, potentially reaching lows seen earlier in the year.
The recent negative trend signal could be misleading if buyers can regain control, pushing the price of DOGE back above $0.103–$0.105.
Dogecoin is currently facing a challenging situation, caught between a key support level and weakening upward momentum. A newly forming technical pattern suggests the recent price increase might be losing steam before it can achieve a larger breakout, though this doesn’t necessarily mean a major price drop is imminent.
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2026-06-02 11:53