Ramazan Eles 
Dogecoin (DOGE) is battling a critical level amidst Bitcoin’s (BTC) downturn.
Meme coins, which had gained significant momentum lately, had made a splash in the market. However, with BTC’s decline, this momentum has faded away. Particularly, the sharp decline in Dogecoin (DOGE) has sparked fear among investors. With a staggering 36% drop in just one week, which levels should investors keep an eye on for Dogecoin?
Time is Running Out for Dogecoin
Descending since $0.19229, Dogecoin (DOGE) found support at $0.12160. The meme coin, currently hovering just above a crucial support zone, reached $0.12947. As of writing, DOGE is priced just above a significant demand area, and if it breaks below the range of $0.12690 – $0.12160, it could face significant downturns. In such a scenario, it might aim to test $0.11373 – $0.10008 sequentially.
Factors like increasing demand for meme coins, support from prominent businessman Elon Musk on social media, or BTC starting to close daily above $65,000, could trigger an upward trend for DOGE. In such a scenario, a movement towards $0.15068 – $0.17565 – $0.19229 may occur.
A potential surge in DOGE could also spur other meme coins into action. Inflows into meme coins would inject vitality into the sector. This could further strengthen the bull market, potentially evolving into a more robust phase. DOGE’s significant position in the sector would amplify its positive effects even more.
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