The price of Dogecoin (DOGE) has experienced a sharp decline, reaching its lowest point since November. This drop is attributed to fear and panic selling within the crypto industry, which is largely driven by retail investors with short investment horizons. Analysts suggest that DOGE has entered the markdown phase of the Wyckoff Method, following an accumulation phase and a distribution phase. Additionally, skepticism regarding Elon Musk's Department of Government Efficiency initiative has also influenced the decline. The next critical level to watch is $0.2293, and a drop below this level could increase the likelihood of DOGE falling further to the major support/resistance pivot at $0.1953. Investors are cautioned about a potential dead cat bounce, where the price temporarily rises before continuing its downward trend.



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