DOGE’s Plunge: A Canine Comedy of Errors!

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Ah, behold the tragicomic tale of Dogecoin, that whimsical hound of the crypto realm, now languishing below the $0.1050 threshold against the mighty US Dollar! Alas, poor DOGE, consolidating its losses like a jester who’s lost his jest, may find naught but thorns near $0.10 and $0.1040.

  • Our canine companion, DOGE, hath embarked on a fresh decline, slipping beneath the $0.1050 level with a woeful whimper.
  • Lo, it trades below $0.10 and the 100-hourly simple moving average, a veritable quagmire of despair.
  • Mark well, a key bearish trend line doth form, with resistance at $0.1005 on the hourly chart of the DOGE/USD pair (courtesy of Kraken, that bastion of data).
  • Should it remain below $0.1020 and $0.1040, further losses shall ensue, like a farce that knows no end.

Dogecoin’s Uphill Battle: A Farce in Three Acts

Alas, Dogecoin, once a merry prankster, hath begun its descent after closing below $0.1050, following in the footsteps of Bitcoin and Ethereum, those titans of the crypto stage. Below $0.1040 and $0.1020 it fell, like a jester tripping over his own jest.

Even below $0.10 it traded, forming a low near $0.0955. A recovery wave above $0.0980 did appear, but it stayed below the 23.6% Fib retracement level of the downward move from the $0.1174 swing high to the $0.0955 low, a mere shadow of its former self.

Now, our poor DOGE trades below $0.10 and the 100-hourly simple moving average, with a bearish trend line forming resistance at $0.1005. Oh, the folly of it all!

Should a recovery wave arise, immediate resistance lies near $0.10. The first major resistance for the bulls may be at $0.1005, with the trend line as its foil. The next major resistance awaits at $0.1040, or the 38.2% Fib retracement level of the downward move from $0.1174 to $0.0955.

Dogecoin Chart

A close above $0.1040 might propel the price toward $0.1065, and further gains could lead to $0.1120. The next major stop for the bulls may be $0.1150, but will they ever reach it? Ah, the suspense is palpable… or is it merely absurd?

Another Act in DOGE’s Tragicomedy

Should DOGE fail to ascend above $0.1040, it may continue its downward spiral. Initial support lies near $0.0955, with the next major support at $0.0920. The main support rests at $0.0880, and a break below it could lead to further declines, perhaps to $0.0832 or even $0.0820 in the near term. Oh, the folly of it all!

Technical Indicators:

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

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

Major Support Levels – $0.0955 and $0.0920, where our hero may find fleeting solace.

Major Resistance Levels – $0.1005 and $0.1040, barriers that may prove insurmountable.

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2026-02-20 08:31