The Dogecoin price recently dropped below a crucial rising line, a trend line that has been followed since March 11, 2025. This breaking of the support line could be a signal for further downward movements.
Dogecoin price drops below important support line
According to a technical analysis, the situation currently looks bleak for Dogecoin. The price has fallen below the support of $0.166, a level that previously acted as an important threshold. If Dogecoin does not manage to recover above this level quickly, the decline could continue to around $0.136, a loss of 18% compared to the current level.
In addition, the general mood on the crypto market is negative, which further reduces the chance of recovery. Macroeconomic factors and uncertainty in the broader market are contributing to the downward pressure on Dogecoin.
Dogecoin trading at lowest point of 2025
The falling price and negative sentiment have made many traders cautious. Trading activity has declined sharply. Data from Santiment shows that trading volume in the past 24 hours has reached its lowest level of 2025. Compared to the previous day, the volume has dropped by 30%.
The number of active wallets has also taken a significant hit. At the beginning of March, there were still 81,566 active addresses, while that number has now decreased to 42,563, a decrease of more than 50%. This suggests that fewer investors are actively trading and may be waiting for better market conditions.
Data from CoinGlass shows that many traders are now betting on a further decline. At $0.165, long positions have a total value of $4.6 million. These positions can be liquidated quickly if the price drops further.
On the other hand, there is also a lot of activity at $0.173. Here, short traders have built up positions with a total value of $21 million. That indicates a strong commitment to a fall in the price.
The Dogecoin price has thus dropped below an important support line. At the same time, the trading volume is falling and the number of active wallets is decreasing. There are also large leveraged positions that can cause additional price fluctuations. As long as the price remains below $0.166, there is a good chance that Dogecoin will fall further to $0.136.
