The article discusses the current state of the Dogecoin (DOGE) market and the potential for a price downfall. The meme coins market is experiencing a free fall, with DOGE facing intense supply pressure. The current DOGE price is $0.2592, with a 24-hour downfall of nearly 4%. Despite this, DOGE remains the largest player in the meme segment with a market cap of $38.39 billion. The article analyzes the price action and technical indicators of DOGE, indicating a bearish trend and a potential breakdown of a triangle pattern. The dynamic average lines and RSI signal increasing selling pressure. If the price closes below $0.24, it is likely to fall to the $0.20 mark. On the optimistic side, a bullish comeback could push DOGE toward the $0.3119 resistance level. The article also highlights a bearish crossover in DOGE's on-chain metrics, which has historically led to significant pullbacks in price. Overall, it suggests that DOGE prices could face a further downfall, but a reversal is possible with increased bullish momentum.



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