Can Bulls Defend Support and Avoid a 50% Plunge?

The crypto market had been moving sideways as investor attention shifted toward gold and silver. However, after precious metals pulled back from their highs, risk assets were expected to see some relief. Instead, selling pressure intensified across markets. Bitcoin slipped to intraday lows near $81,000, dragging broader crypto sentiment lower. Dogecoin price has also come under pressure and is now testing a crucial support zone around $0.10. 

With the price hovering at this level, the key question is whether DOGE bulls can defend this support—or if a deeper move, potentially a 50% pullback, is now in play.

Dogecoin is trading at a decisive long-term turning point as price retests a rising trendline that has defined its macro structure for nearly a decade. Historically, this ascending trendline capped DOGE’s upside until the 2021 bull run, after which it flipped into a key support zone. Price is once again hovering near this level, making it a critical area for bulls to defend. However, broader technicals are not fully supportive, increasing the risk of a structural breakdown.

The long-term chart paints a cautious picture. Monthly MACD has turned lower, signaling rising selling pressure, while the monthly RSI has slipped below its median level, reflecting weakening momentum. Although the DOGE price has briefly dipped below $0.10 in the past and recovered swiftly, the current setup lacks strong bullish confirmation. A failure to hold this trendline could expose Dogecoin to a deeper correction, potentially triggering a 40–50% downside from current levels.

From a technical perspective, the Dogecoin price is approaching a high-risk decision zone. Price is pressing against the long-term ascending trendline, which has repeatedly acted as a structural pivot since 2014. The failure to produce a strong bounce here points to fading bullish momentum. A decisive monthly close below the trendline and the $0.10–$0.09 support band would confirm a macro breakdown, opening the door for a deeper retracement toward the $0.06–$0.05 demand zone.