Dogecoin Under Pressure: More Losses Incoming or a Stealth Rebound on the Horizon?

The broader crypto market has been stuck in a painful downtrend since October of last year, and memecoins have absorbed the worst of the damage. Dogecoin (DOGE) is no exception — the token slid another 4% in just the past 24 hours, adding to an already brutal stretch of losses.

At current levels, DOGE is sitting approximately 90% below its all-time high recorded five years ago. Technical signals and market structure suggest the selling pressure may not be over just yet.

**Breaking Down the Chart Structure**

On the daily timeframe, Dogecoin has broken below a sideways consolidation range that had been holding since February. The breakdown was subsequently confirmed when price retested the $0.08926 level and pushed below February's swing low — a textbook bearish continuation signal.

Making matters worse, DOGE also rejected below its 200-day moving average, reinforcing the idea that sellers remain firmly in control. From a structural standpoint, further downside cannot be ruled out.

That said, there are some early signs of pushback from buyers. Net volume surged by nearly 99%, hinting at mild accumulation beneath the surface. On top of that, crypto analyst Ali Martinez flagged a TD Sequential buy signal on the daily chart — a pattern that historically marks potential pauses in downtrends.

But conditions apply. The signal only remains valid as long as DOGE holds above the $0.073 support level. If that floor gives way, the setup is invalidated and the next target of $0.081 becomes irrelevant. A shorter timeframe view also tells a bearish story: the price has been consistently capped by a descending trendline resistance, with capital continuing to rotate out of the asset.

The Chaikin Money Flow (CMF) indicator is reading at -0.17, confirming that selling pressure outweighs buying interest, even as the momentum gauge has begun to tick upward slightly.

**Dogecoin ETFs Tell a Grim Story**

Zooming out to examine Dogecoin's spot ETF flows over the past month paints an equally discouraging picture. Since May 19th, only two days out of the entire period registered positive net inflows across all three Dogecoin ETFs — June 2nd ($662K) and June 17th ($200K).

In total, just $863K flowed into DOGE ETFs over roughly 30 days, with the remaining sessions seeing flat or zero activity. This near-complete collapse in institutional-grade demand reflects the broader market carnage that followed the sharp October correction.

While weak ETF flows don't guarantee continued price declines, they represent a significant headwind. Demand from this segment of the market has essentially evaporated, which helps explain why buying pressure at the spot level has struggled to materialize in any meaningful way.

**What Comes Next for DOGE?**

Dogecoin remains trapped in a bearish market structure, with multiple indicators confirming that sellers are still calling the shots. The TD Sequential buy signal and the spike in net volume offer a small glimmer of hope for bulls, but these signals need follow-through to mean anything.

The $0.073 level is now the line in the sand. A hold above it keeps the door open for a short-term recovery toward $0.081. A break below it could accelerate the next leg down. Until clearer direction emerges, DOGE looks set to remain a high-risk, low-conviction play in the current environment.