• Dogecoin continues to drag down regardless of Musk’s tweets supporting it over different ciphers.
• Major assist of $0.2220 with threat of additional decline if assist shouldn’t be retained.
• If Doge breaks the $0.2350 resistance, it may get well.

Dogecoin (Doge), a preferred meme-based cryptocurrency, has been rediscovered within the coronary heart of Crypto Highlight.

Nonetheless, this time, even Elon Musk’s vocal assist does not appear sufficient to cease the present worth drop.

Musk’s newest remarks affirmed his attachment to Dogecoin, persevering with his downward pattern, ruling 6% at this time, citing “I like canines and memes,” and rejecting different cryptocurrencies.

Elon Musk: “I am not going to kiddely promote cryptography at greatest. If I see them pumping cryptography, it isn’t me. I feel Bitcoin has its advantages. I really like canines and memes, so I’ve a delicate spot for Dogecoin.” pic.twitter.com/uodnute0ad

– dogedesigner (@cb_doge) July twenty fifth, 2025

Dogecoin Worth continues to slip bullish technical patterns

Dogecoin has surged a formidable 38% over the previous month, backed by robust technical patterns and big whale accumulation.

Beforehand, in style analysts had recognized Livermore cylinder patterns on their charts. This was a formation usually related to parabolic gatherings.

This sample has led many to imagine Doge might surpass resistance ranges and attain $1.50 within the coming months.

#doge I commerce throughout the Livermore cylinder within the textbook!

This sample, basically a bullish megaphone, was invented by Jesse Livermore and identified earlier than actively destroying the buildup stage of belongings throughout the cylinder.

If that is actually the case… pic.twitter.com/5ygeonxd9l

– Tradingshot (@tradingshot) July 23, 2025

Moreover, on-chain knowledge reveals that over $250 million in Doge has been scooped up by giant homeowners in simply 48 hours.

Buying and selling volumes additionally rose 77%, indicating a rising curiosity and aggressive buying strain.

These developments confirmed that many individuals had a serious breakout on the horizon.

Nonetheless, following the latest decline from the $0.250 mark, Dogecoin has begun to carry out poorly in comparison with Bitcoin and Ethereum.

Memecoin is beneath a number of assist zones and is presently buying and selling at each the $0.2320 stage and its easy shifting common for 100 hours, making many merchants cautious.

Bear strain mount

Technically, Dogecoin is presently going through resistance at $0.2280 and $0.2350.

Until the Bulls regain these vital ranges, a bearish trendline has been shaped on the hourly charts suggesting much more downward strain.

Moreover, hourly MACDs acquire energy within the pink zone, whereas relative energy index (RSI) is beneath the impartial stage of fifty.

The important thing assist is shaped at $0.2220, with a drop beneath this that can additional scale back Doge to $0.2120 and even $0.2054.

In response to Coinlore, if Doge is beneath the $0.2054 stage, your subsequent minus aspect goal may very well be $0.1980 or $0.1947. The momentum indicator additionally displays this bearish flip.

However, there are nonetheless alternatives for restoration. If Dogecoin rises above $0.2280 and retains shifting above $0.2350, it may very well be trying to retest the $0.250 stage.

A robust shut above $0.2420 might change momentum in favor of the bull.