Dogecoin is under pressure. The meme coin trades at $0.1755, down 7.05% today. Over the past week, it’s fallen 14.35%. While volume surged 150% to $1.99 billion, the price still slid sharply. That volume spike may reflect panic selling.
Technical indicators offer little relief. Analyst highlighted that DOGE broke key support zones and entered oversold territory. An RSI of 6.02 and a strong ADX of 60.3 confirm the trend is bearish and momentum is strong. Traders eye the $0.1665 level, hoping for a bounce.
Coinbase launches cbDOGE to bring Dogecoin to DeFi on Base
Coinbase has wrapped Dogecoin into a new token, cbDOGE, for use on its Base layer-2 network. This move allows holders to use DOGE in DeFi apps while keeping their exposure. The token is backed 1:1 with DOGE in Coinbase custody.
Furthermore, this opens new doors. cbDOGE can be used in staking, liquidity pools, or lending platforms on Base. Within 24 hours, cbDOGE reached nearly $2 million in market cap. The DOGE community seems ready for DeFi.
Retail momentum drives optimistic DOGE outlook
Despite the pain of today, analysts still see some upside. DigitalCoinPrice predicts that DOGE could go back to $0.38 by the end of the year and even break its all-time high of $0.74. That’s a very positive outlook, because it’s driven by a potential retail momentum.
Moreover, Changelly is more conservative with its projections. For 2025, Changelly sees DOGE priced between $0.198 and $0.241. According to the platform, June 2025 could see DOGE reach $0.236, which is a potential return of 92.5% from current levels. However, such gains would be contingent upon breaking resistance and sustaining momentum.
