Dogecoin (DOGE) has struggled to reclaim the $0.19 threshold, with bearish sentiment persisting despite recent signs of potential recovery. The meme token fell 4.3% in the last 24 hours, breaking key support and establishing a new resistance zone.
Macroeconomic factors such as geopolitical tensions and inflation are influencing DOGE’s market performance. Whale transfers have also moved significant amounts to major exchanges, sparking speculation about potential sell-offs or accumulation phases.
Technical analysis suggests that DOGE is consolidating between $0.188 and $0.190, with weak recovery attempts amid broader market caution. A descending triangle pattern is forming on the charts, which could dictate DOGE’s next move. However, any recovery attempts have so far lacked conviction, and the token’s inability to reclaim the $0.19 threshold underscores persistent market caution.
Key support at $0.194 was broken on above-average volume, establishing a new resistance zone. A temporary bottom formed at $0.187 during the 20:00 hour, with the day’s highest volume of 223M suggesting potential seller exhaustion. DOGE consolidated between $0.188 and $0.190, showing weak recovery attempts.
In the wake of recent whale transfers and macroeconomic factors, investors are cautious about DOGE’s prospects, opting for stablecoins or Bitcoin instead. The token’s price struggles come as a shifting landscape in the meme coin sector and a general preference for risk-averse assets.
Source: https://www.coindesk.com/markets/2025/06/05/dogecoin-struggles-to-reclaim-019-threshold-as-bearish-sentiment-persists