Major meme coin Dogecoin (DOGE) at risk025 borgata winter poker open key levels to watch now inside Advertisement

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Dogecoin (DOGE) is back in the spotlight — and not because of Elon Musk interaction, but for a price chart setup that could shape where the meme coin goes next. DOGE is trading just under $0.17, a level that has done some heavy lifting in the past. 

Advertisement

This time, though, it is not acting as support. And that is the question now: can DOGE reclaim it before candles start to go red?

Related Mon, 04/21/2025 - 22:22 Dogecoin (DOGE) Outperforms Bitcoin In Key Metrics as ETF Review Fuels Momentum Caroline Amosun

HOT Stories Ripple’s Activity Spike Features 54,000,000 RLUSD, Here’s What Happened Saylor Reacts to Fed's Bitcoin U-Turn Ripple President: No IPO Yet Ethereum (ETH) Volume Explosion, Shiba Inu (SHIB) Skyrocketing Brutally Ended, Dogecoin (DOGE): Is $0.20 Still Possible?

What is at stake here is more than just a psychological level. The $0.17 zone lines up with the 78.6% Fibonacci retracement from the 2021 rally, as depicted by analyst Ali Martinez. A move back above it could restore some short-term optimism, potentially opening a path back toward the $0.23-$0.30 range per DOGE. 

Advertisement

#Dogecoin $DOGE needs to reclaim $0.17 as support! Failing to do so could open the door to a drop toward $0.06. pic.twitter.com/WUHX4tuSk4

— Ali (@ali_charts) April 22, 2025

But what Dogecoin got instead was a rejection, followed by a slow grind lower. That is not a great look, especially with the next major support sitting all the way down at $0.06.

Still, that kind of drop would not come out of nowhere. DOGE has been respecting a long-term ascending channel, and while the trendline is still intact, momentum is starting to feel thin. The last bounce off $0.06 led to a rally — but without reclaiming $0.17, it is hard to see that move as anything more than a temporary spark. Volume has not been convincing either.

Related Mon, 04/21/2025 - 16:22 XRP to Get Major Institutional Adoption Boost in Asia, 21,000,000,000,000 Shiba Inu Support Is Born, Dogecoin Breaks into Top 8 of Crypto Market: Crypto News Digest by U.Today Valeria Blokhina

For now, either Dogecoin bulls step in and flip $0.17 back into support, or the door opens to a deeper pullback that could erase much of this year’s gains. Whether a major meme coin can hold its ground or slide back into a longer consolidation phase will say a lot about what kind of cycle it is in.