Dogecoin price has come under renewed selling pressure, extending its recent downturn as broader crypto markets shift into a risk-off mode. The meme coin is currently trading near $0.102 after posting a 3.16% daily decline and a steep 17.8% loss over the past week. This bearish move follows heightened market uncertainty triggered by macro conditions and muted reactions to Elon Musk’s latest comments regarding SpaceX’s long-awaited Dogecoin-funded moon mission. Despite renewed buzz around the DOGE-1 mission, now tentatively expected in 2027, Dogecoin has failed to attract bullish momentum.
From a technical perspective, Dogecoin price continues to trade within a downward channel that has been forming since late 2025, marked by consistently lower highs. The price recently slipped below the $0.11 level and tested support near $0.108 before sliding closer to the critical $0.10 zone. This level is now acting as a key psychological and technical support. A sustained breakdown below $0.10 could open the door for further losses toward $0.09.
The broader crypto market has added to the pressure, with total market capitalization falling nearly 3.9%. Bitcoin price is also hovering near the $70,000 mark, contributing to cautious sentiment across altcoins, including Dogecoin. Momentum indicators reinforce the bearish outlook. The MACD shows negative momentum with the signal line below the MACD line, while the RSI sits around 40, approaching oversold territory but not yet signaling a strong reversal.
On the upside, resistance remains firmly capped near $0.12, a level Dogecoin must reclaim to signal a potential trend shift. While the SpaceX DOGE-1 mission could eventually boost Dogecoin’s real-world use case and narrative, current price action suggests traders remain focused on near-term technical weakness rather than long-term hype.
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