Dogecoin (DOGE) Price Drops Below Key Support – What's Next for Traders?

Dogecoin has hit a rough patch this week, and traders are taking notice. The popular meme coin just broke through some pretty important price floors, and that's got everyone wondering what comes next. If you've been keeping an eye on DOGE lately, you've probably noticed things haven't been looking too hot.

DOGE Price Breaks Critical Support Levels

Dogecoin's price action has taken a turn for the worse after officially breaking below two major support zones at $0.22117 and $0.20078. This breakdown confirms what many traders have been fearing – we're looking at a solid bearish scenario here.

The 4-hour chart tells the whole story. DOGE is currently sitting around $0.19677, which is a pretty significant drop from its recent peak near $0.23000. That's the kind of move that gets traders' attention, and not necessarily in a good way.

What makes this breakdown particularly concerning is how cleanly DOGE sliced through those horizontal support zones. When price levels that have held strong suddenly give way like this, it usually means the selling pressure has really ramped up.

DOGE Bearish Targets: $0.18057 and $0.16977 in Focus

So where might DOGE be headed next? Based on the current chart setup, traders are watching two key downside targets:

Short Target 1: $0.18057 Short Target 2: $0.16977

These aren't just random numbers – they represent areas where DOGE might find some breathing room. Of course, that's only if buyers decide to step in with enough volume to actually support the price.

Here's the thing though: if this bearish momentum keeps rolling, these targets could get hit faster than you might expect. The crypto market has a way of moving quickly when sentiment shifts.

But it's not all doom and gloom. If DOGE somehow manages to climb back above that $0.20078 level, then $0.22117 becomes the next big test. Break above that, and we might see this whole bearish narrative flip on its head, potentially pushing DOGE toward $0.24000 or even higher levels around $0.26000 and $0.28000.

Right now though, Dogecoin's price is in a pretty fragile spot. The momentum is clearly pointing downward, and unless the bulls can mount a serious comeback, we're probably looking at further drops toward those $0.18057 or $0.16977 targets in the near term.