Dogecoin price analysis (Bearish) — 0.18 USDT (-8.07% 24h)

DOGE is showing significant technical weakness as it trades at $0.183, down over 8% in the past 24 hours. The meme coin has broken below both its 20-day SMA ($0.190) and 50-day SMA ($0.195), indicating sustained selling pressure. With RSI sitting at 31.3, DOGE is approaching oversold territory, which could signal a potential near-term bounce. However, the high volatility reading of 9.24% suggests continued price instability. Trading volume remains substantial at $365 million, indicating active participation despite the downturn. For traders, current levels might present a contrarian opportunity for a short-term rebound play, but any long positions should use tight stops below $0.175. The break below key moving averages suggests the overall trend remains bearish, so position sizing should remain conservative until DOGE can reclaim the $0.195 level.