Dogecoin Price Nears Critical $0.17 Support as Volume Evaporates

Dogecoin (DOGE) is skating on thin ice as its price clings to the pivotal $0.17 support level, the last barrier against a deeper sell-off. After sliding steadily since early June, DOGE changes hands near $0.1704, firmly beneath the 50-day and 100-day exponential moving averages (EMAs). These EMAs now act as overhead resistance, underscoring persistent bearish momentum. The 200-day EMA sits even higher, highlighting how far the token must climb before bulls can claim a true recovery.

Technical indicators echo the caution. Price action has failed to reclaim any significant moving average despite a brief rebound attempt around $0.18. Meanwhile, daily trading volume keeps shrinking, a red flag signaling waning market interest. Prolonged volume deterioration often precedes capitulation, when frustrated holders exit positions and liquidity dries up, accelerating declines.

If Dogecoin loses $0.17, historical price clusters point to $0.14 as the next logical support. Yet thinning liquidity could weaken this defense, opening a path toward the psychologically charged $0.10 zone. Dropping below ten cents would erase months of gains and could add another decimal, a scenario bearish traders have eyed since momentum flipped negative.

For now, the meme coin’s fate rests on whether buyers return in force. A decisive move back above $0.18 and the 50 EMA would be the first bullish signal. Until then, traders should watch volume and the $0.17 line like hawks; a break may spark sharp, headline-grabbing volatility.