Dogecoin retests key $0.1667 support: Will DOGE rebound to $0.183?
By: ambcrypto|2025/05/07 12:45:01
0
Share
DOGE has declined by 6.78% over the past seven days, as bears dominated. Dogecoin was retesting a key support level around $0.1667. Over the past week, Dogecoin [DOGE] has experienced strong downward pressure. In fact, as of this writing, Dogecoin was trading at $0.1667, marking a 3.33% decline over the past day. This bearish outlook extended to the weekly charts, dropping by 6.78%. The sustained price decline has left key stakeholders and analysts talking over Dogecoin’s future trajectory. Inasmuch, popular crypto analyst Ali Martinez has suggested a potential price rebound to $0.183. Source: X Martinez observed that Dogecoin was testing a key support level around $0.167 at press time. If this support holds, it will spark a strong rebound towards $0.175 and even rally to $0.183. Based on this analogy, DOGE needs a close above $0.1667, a level that seems out of reach, as the memecoin has struggled to successfully hold above it for the past three days. Can Dogecoin rebound? According to AMBCrypto’s analysis, DOGE was experiencing strong downward pressure at the time of writing, amid bearish sentiment and low network activity. For starters, Dogecoin’s Weighted Sentiment held within negative territory over the past three days. A negative Weighted Sentiment indicates strong bearishness among market participants. As such, most participants have a negative perception of the memecoin and expect prices to depreciate even more. Source: Santiment This bearishness has forced most traders and investors to take a step back in the market. Inasmuch so, Dogecoin’s network activity is sharply dropping as well. Looking at the price DAA divergence, this metric has remained negative over the past seven days. Source: Santiment A negative price DAA implies that network activity is relatively low relative to current prices. As such, even though prices are declining, network activity has dropped at a faster rate, leaving prices higher. Thus, Dogecoin’s prices are not backed by actual demand, and for price stability, the memecoin needs to drop. Source: Santiment With most market players bearish, they were aggressively shorting the memecoin. Looking at the DyDx Exchange Funding Rate, it has held within negative territory over the past week. With short dominating, it implies that investors expect prices to drop further. What’s next for DOGE? At press time, downward momentum appeared to be strengthening. This was evidenced by the declining RVGI, which has dropped to -0.12. Since making a bearish crossover, RVGI has dropped strongly to a negative value. Such a drop reflects strong downward momentum, with the memecoin closing with lower lows. Source: TradingView If the downtrend continues amidst strong bearish sentiment, we could see DOGE drop even further. A continuation of the trend will push the memecoin further downwards, and it will find support around $0.161. For the levels predicted by Martinez to hold, buyers need to displace sellers who are currently attempting to take over the market. Therefore, Dogecoin needs external factors such as good macroeconomic reports or favorable rate cuts to incentivize buyers to return to the market. Such development could propel DOGE towards $0.178. Share Share Tweet
You may also like

Who is the true winner of the "Tokenization" narrative?
Virtually everyone benefits, but the reason for the benefit, the timing, and the underlying logic are completely different.

Moss: The Era of AI-Traded by Anyone | Project Introduction
AI Trading Agent is rapidly growing its infrastructure.

Chip Smuggling Case Exposes Regulatory Loophole | Rewire News Evening Update
AI chips have become a strategic asset more sensitive than missiles

How a Structured AI Crypto Trading Bot Won at the WEEX Hackathon
Ritmex demonstrates how disciplined risk control and structured signals can make an AI crypto trading bot more stable and reliable on WEEX, highlighting the importance of combining execution discipline with scalable AI trading systems.

Old Indicator Fails, Three Major New Signals Emerge: BTC True Bottom May Still Be Below $60K
When the grocery shopping auntie on the subway, or Tony the hairdresser, start asking you about BTC, crypto, and cryptocurrency investments, selling immediately will be the only best option.

Meeting OpenClaw Founder at a Hackathon: What Else Can Lobsters Do?
Imperial College London MetaGame: AI Agent × Web3 Landing Three Major Directions.

Huang Renxun's Latest Podcast Transcript: NVIDIA's Future, Embodied Intelligence and Agent Development, Soaring Demand for Inferencing, and AI's PR Crisis
The future of competition is not only about whose model is bigger, whose computing power is stronger, but also about who understands the industry better, who can more deeply integrate AI into real processes, and who can organize these capabilities into a set of executable, scalable systems
How a Structured AI Crypto Trading Bot Won at the WEEX Hackathon
Crypto_Trade shows how structured inputs and controlled adaptability can build a more stable and reliable AI crypto trading bot within the WEEX AI Trading Hackathon, highlighting a practical path toward scalable AI trading systems.

AI Starts to Devour the Manufacturing Industry | Rewire News Morning Edition
When Bezos starts using AI to buy factories instead of building data centers, it shows that he believes the next wave of AI's value is not inside the box.

When Scaling Meets Speed, Ethereum Foundation Introduces "Hardness" to Safeguard the Base Layer
Hardness is a protocol-level commitment to Ethereum core properties, including censorship resistance, privacy, security, and permissionlessness.

Google, Circle, Stripe Flock Together to Let AI Spend Money: Payment Giants' Joys and Worries in 2026 Q1
The real enemy is no longer each other, but zero cost itself

$100 Billion Factory Purchase: Bezos and Middle Eastern Capital Shift AI Money from Cloud to Shop Floor
Bezos doesn't invest in a new model; he invests in a supply chain.

Xiaomi and MiniMax both unleash their ultimate moves, signaling the start of the Agent Pricing War.
No brand, no marketing, let developers vote with their feet in 8 days

Predicting markets has taken the spotlight, but the Perp DEX has been quietly waging war on traditional exchanges.
During a weekend of relentless volatility, while traditional financial markets were closed, another wave of investors was busy trading gold, oil, and silver on a blockchain platform.

Is the Market Slump Still Making Millions a Day? Is pump.fun's Revenue Real?
If it's really that profitable, what's keeping $PUMP's price down?

Understanding x402 and MPP in One Article: The Two Paths of Agent Payments
x402 for in-protocol payments, MPP for off-chain payments

Quick Look at the Latest 18 Graduation Projects from Alliance: Who's the Next Pump.fun?
The project's core innovation areas include stablecoin payments, AI applications, prediction markets, and RWA tokenization.

It's not just the prediction market that profits from the Iraq War
Always maintaining the ambiguity of regulation with "offshore" may be the consensus of the perp DEX.
Who is the true winner of the "Tokenization" narrative?
Virtually everyone benefits, but the reason for the benefit, the timing, and the underlying logic are completely different.
Moss: The Era of AI-Traded by Anyone | Project Introduction
AI Trading Agent is rapidly growing its infrastructure.
Chip Smuggling Case Exposes Regulatory Loophole | Rewire News Evening Update
AI chips have become a strategic asset more sensitive than missiles
How a Structured AI Crypto Trading Bot Won at the WEEX Hackathon
Ritmex demonstrates how disciplined risk control and structured signals can make an AI crypto trading bot more stable and reliable on WEEX, highlighting the importance of combining execution discipline with scalable AI trading systems.
Old Indicator Fails, Three Major New Signals Emerge: BTC True Bottom May Still Be Below $60K
When the grocery shopping auntie on the subway, or Tony the hairdresser, start asking you about BTC, crypto, and cryptocurrency investments, selling immediately will be the only best option.
Meeting OpenClaw Founder at a Hackathon: What Else Can Lobsters Do?
Imperial College London MetaGame: AI Agent × Web3 Landing Three Major Directions.