Dogecoin (DOGE) drops to november lows amid memecoin sell-off
Press Hub UCapital
Share:
Dogecoin falls alongside Altcoin market
Dogecoin (DOGE/USD) dropped 5% to $0.2330, marking its lowest level since early november the broader memecoin sector is under heavy selling pressure, with Solana (SOL), Avalanche (AVAX), Chainlink (LINK), and Polkadot (DOT) also seeing significant declines.
LibraToken collapse triggers memecoin sell-off
The failure of the LibraToken, a memecoin backed by Argentine president Javier Milei, has sent shockwaves across the sector after reaching a $4.5 billion valuation, Libra collapsed over 90%, following $107 million in insider cash-outs and $87 million withdrawn from liquidity pools this has fueled concerns over fraudulent activity in the memecoin space, leading to widespread market skepticism.
Macroeconomic pressures add to selling pressure
Rising U.S. treasury bond yields and new tariff threats are creating valuation pressures on risk assets, including cryptocurrencies these factors are compounding the bearish sentiment in the market, amplifying the impact of the memecoin meltdown.
Dogecoin technical analysis signals further downside
Doge is breaking below key support at $0.2418, which was established in early february if the price closes below this level, it could open the door for further downside toward $0.20 this level represents a psychological support zone, but if broken, Dogecoin could test lower price levels not seen since mid-2023.
Bullish case depends on reclaiming resistance
For Bulls to regain control, DOGE needs to break above the $0.30 resistance level, which could trigger renewed buying momentum several forecasts predict long-term potential upside, with estimates ranging from $0.20 to as high as $1.07 by the end of 2025, depending on market adoption and sentiment shifts.
Trading outlook
DOGE remains under pressure, with next support at $0.20 if selling continues, a break below this level could push prices toward $0.18 for bullish momentum to return, the price must reclaim $0.25, with a breakout above $0.30 needed to confirm trend reversal.
Dogecoin (DOGE/USD) dropped 5% to $0.2330, marking its lowest level since early november the broader memecoin sector is under heavy selling pressure, with Solana (SOL), Avalanche (AVAX), Chainlink (LINK), and Polkadot (DOT) also seeing significant declines.
LibraToken collapse triggers memecoin sell-off
The failure of the LibraToken, a memecoin backed by Argentine president Javier Milei, has sent shockwaves across the sector after reaching a $4.5 billion valuation, Libra collapsed over 90%, following $107 million in insider cash-outs and $87 million withdrawn from liquidity pools this has fueled concerns over fraudulent activity in the memecoin space, leading to widespread market skepticism.
Macroeconomic pressures add to selling pressure
Rising U.S. treasury bond yields and new tariff threats are creating valuation pressures on risk assets, including cryptocurrencies these factors are compounding the bearish sentiment in the market, amplifying the impact of the memecoin meltdown.
Dogecoin technical analysis signals further downside
Doge is breaking below key support at $0.2418, which was established in early february if the price closes below this level, it could open the door for further downside toward $0.20 this level represents a psychological support zone, but if broken, Dogecoin could test lower price levels not seen since mid-2023.
Bullish case depends on reclaiming resistance
For Bulls to regain control, DOGE needs to break above the $0.30 resistance level, which could trigger renewed buying momentum several forecasts predict long-term potential upside, with estimates ranging from $0.20 to as high as $1.07 by the end of 2025, depending on market adoption and sentiment shifts.
Trading outlook
DOGE remains under pressure, with next support at $0.20 if selling continues, a break below this level could push prices toward $0.18 for bullish momentum to return, the price must reclaim $0.25, with a breakout above $0.30 needed to confirm trend reversal.