Dogecoin Price Could Continue To Decline If This Doesn’t Happen; Analyst

Dogecoin's price is under pressure, and analysts caution of further declines. The meme coin struggles to break key resistance levels, indicating sustained selling pressure. Its bearish trend, established for months, shows few signs of reversing. Experts like KrissPax believe another crash is possible without a strong bullish catalyst. A descending channel pattern on Dogecoin's chart suggests potential downside movement if it fails to break the upper trendline. The price has been consolidating near the channel's lower to middle part around $0.12-$0.14. A break below the lower trendline would confirm the continued downtrend for Dogecoin. A breakout with volume could invalidate the bearish structure and signal a trend change. Dogecoin currently shows a price correction of over 3% in the last 24 hours. Its daily, weekly, and monthly performances are negative, extending the downtrend. Dogecoin's total market capitalization and trading volume are also declining, reflecting reduced investor confidence.