Dogecoin (DOGE), the world's largest meme coin, has broken below a key support level maintained since March 11, 2025, signaling a potential significant price decline.

Dogecoin (DOGE) Price Prediction and Key Levels

Technical analysis suggests a bearish outlook for DOGE following the breach of this crucial support. This is compounded by the prevailing negative market sentiment. If DOGE remains below $0.166, a further 18% drop to $0.136 is possible, based on recent price action and historical trends.

Source: Trading View

Dogecoin Trading Volume Plummets to 2025 Low

The bearish market sentiment and price action have resulted in significantly reduced trading volume. Data from Santiment shows DOGE's 24-hour trading volume has reached its lowest point of 2025.

Source: Santiment

Current Market Dynamics

At the time of writing, DOGE is trading near $0.166, down over 5% in the last 24 hours. This price drop is accompanied by a 30% decrease in trading volume compared to the previous day. Daily active addresses have also fallen sharply since early March 2025, dropping over 50% from 81,566 to 42,563, according to Santiment.

Significant Liquidation Levels

On-chain data from Coinglass reveals a strong bearish sentiment among traders. Significant over-leveraged positions exist at $0.165 (longs, ~$4.60 million) and $0.173 (shorts, ~$21 million). This suggests a potential for further downward pressure on the price.