Key Insights:
- Dogecoin price risks a 37% drop to $0.0844 if $0.1592 support fails.
- Futures traders across Binance, ByBit, and OKX have stacked $49.6M in shorts in the last 24 hours, which is a warning sign.
- Without an alt-season rally, the DOGE price may stay grounded and possibly crash lower.
The Dogecoin price has been on a wild ride for crypto traders and meme coin enthusiasts alike, but the momentum is shifting, and not in a “to the moon” kind of way. As of April 16, 2025, DOGE price is sitting at a shaky $0.1529, and the charts signal that caution is warranted. Will Dogecoin escape imminent crash and soar to new all-time high?.
Crypto analyst Ali Charts posted on X that 72% of traders with open positions on Binance are long on DOGE, signaling bullish sentiment.
However, despite the bullish market sentiment, Dogecoin could be facing an overcrowded trade risk. When too many traders are on the same side (long), the market can become overextended. If DOGE fails to rise as expected, a sudden reversal could trigger mass liquidations, leading to a sharp drop (a long squeeze).
The Dogecoin price has dropped 4.4% in the last 24 hours to trade at $0.1529 as of 6:11 a.m. EST on a 17.2% decline in trading volume to $752 million.
Dogecoin Price Treads on Thin Ice
On the 3-day chart, DOGE price action shows signs of consolidation after a prolonged downtrend. The candlesticks show a brutal rejection after DOGE tried to break through $0.1801.
The 200-day simple moving average (SMA) is curving upward at $0.1590, acting as a flimsy support for now. But here’s the kicker: DOGE is trapped in a danger zone between $0.1592 (current price) and $0.1050 (next major support).
If the current support cracks, the chart warns of a potential 37.89% nosedive to $0.0967, a level DOGE price hasn’t seen since mid-2024.
The Relative Strength Index (RSI) is at 35.89 is leaning bearish, teetering close to oversold territory. However, the RSI-based moving average is acting as a support from which the RSI may likely bounce and enter a bullish momentum.
Conversely, the Moving Average Convergence Divergence (MACD) indicator is showing signs of a bullish crossover, signaling that the bulls may be gaining in control.
Futures Traders Are Betting Against DOGE
The sentiment on the futures market isn’t helping DOGE’s case either. According to Coinglass, futures traders are stacking shorts. Cumulative short liquidation leverage sits at a hefty $49.6M, dwarfing the $33.47M in long positions. That’s a clear sign that the big players are betting on DOGE to tank.
When shorts outnumber longs this heavily, it’s usually a precursor to some gnarly downward pressure.
On top of that, Coinglass’s VisualScreener shows DOGE longs closing fast. This mass exit of bullish positions often means one thing: shorts are about to pile in and drive the price lower.
If alt-season, when altcoins typically rally, doesn’t kick in soon, Dogecoin price could be in for a rough ride.
Alt-season Delay Could Be Deadly for Dogecoin Price
The broader market context isn’t doing DOGE any favors. alt-season, the golden window where meme coins like DOGE often go parabolic, hasn’t shown up yet.
Crypto analyst Crypto Jack predicted the alt-season may be starting soon, but many others have been making the same calls since January 2025 to no avail.
Without that alt-season momentum, DOGE is stuck in limbo, and the chart suggests it’s more likely to dump than pump. The $0.1592 support is the last line of defense before a potential 37% crash to $0.0844. If that happens, it’ll be a bloodbath for DOGE holders who’ve been diamond-handing since the last Elon Musk tweet.
Without alt-season, meme coins like DOGE lack catalysts. The $0.1592 level remains a critical support. A breakdown below this zone could send DOGE spiraling toward $0.0844, erasing nearly 40% of its value.
If DOGE holds the support, however, and alt-season does ignite, resistance levels to watch include $0.1801 and $0.2915. A 92% rally to the latter could put DOGE back on a bullish trajectory.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
