Dogecoin Price Teeters—Is a Violent Rebound Brewing Below $0.14?

NAIROBI (CoinChapter.com)—Dogecoin price dropped under $0.14 on April 7, triggering renewed bearish pressure amid broader market weakness. However, traders are eyeing technical signals that hint at a possible trend reversal.

DOGE/USD declined over 6% in 24 hours to $0.1395, according to TradingView data. This drop breached the March low, establishing a fresh local bottom and signaling a potential “Break of Structure,” according to pseudonymous analyst Trader Tardigrade.

“#Dogecoin Downtrend Continues,” the trader wrote on April 7. “$DOGE has broken down the previous swing low… now seeking support to form a bottom.”

The move marks an extension of the macro downtrend that began in early Feb., with the price falling over 50% from the 2025 high of $0.30. The coin now trades below its 50-day and 200-day exponential moving averages, which have crossed into a bearish setup.

Oversold Conditions Trigger Dogecoin Price Bullish Divergence Talk

Despite the breakdown, some traders see early signs of a bounce. RSI levels on the daily chart dipped to 32.47 before slightly rebounding. This places DOGE near the traditional oversold threshold of 30.

According to Trader Tardigrade, a bullish divergence has formed on the daily Relative Strength Index.

“Dogecoin has formed its second RSI BULLISH DIVERGENCE,” he noted, highlighting a lower price low and a higher RSI low. “The first was a weak reversal… The second is a strong reversal.”

This divergence has prompted traders to watch closely for a reaction at the current zone. Some argue that DOGE could now attempt a bottom, fueled by momentum from short-term overselling.

Supporting the idea, BitGuru noted that Dogecoin had “swept key support near $0.143” and is “showing signs of a bullish reversal.”

“A strong bounce could follow,” BitGuru added, “with targets at $0.16, $0.18, and a possible retest of $0.205.”

 

DOGE’s current RSI level of 42.91 remains below neutral, but the trend points upward, reinforcing hopes for at least a relief bounce.

Structure Break or Bear Trap? Market Faces Critical Test

Technically, Dogecoin remains locked in a descending channel since Feb., with lower highs and lower lows defining the trend. The channel’s upper bound sits near $0.16, while the lower boundary now approaches $0.09.

The coin’s failure to reclaim the 0.618 Fibonacci level at $0.2040—combined with repeated rejections from the 50-day EMA near $0.195—indicates persistent seller strength. If bulls want to flip the trend, they must reclaim $0.15 first.

According to the chart, $0.1445 is the 0 Fib support from the last major retracement. DOGE has bounced off this level before but is now testing it again amid thin volume.

Another layer of structure lies near $0.0914. A breakdown under this level could expose the coin to deeper losses, extending the correction phase toward the 2024 breakout level of $0.07.

DOGE Army Optimistic but Cautious as Resistance Looms

While some traders remain hopeful, broader sentiment remains cautious. The Dogecoin Army continues to anticipate a $1 target, but technical analysts caution against premature optimism.

Trader Tardigrade remains one of the more vocal bulls.

“$Doge Army! The harder the battle, the sweeter the victory. Are you ready for $DOGE to hit a dollar?” he posted.

However, such sentiment lacks technical validation at present. Reaching $1 would require a near 7x price increase, something unlikely without renewed retail demand or market-wide risk appetite.

The meme coin’s market cap now hovers near $20 billion, placing it among the top 10 cryptocurrencies. But with whales reducing exposure and meme momentum cooling, DOGE needs more than hope to break resistance levels.

Dogecoin price remains volatile, trading just above $0.14 after rejecting lower levels. Traders are split between a bearish continuation and a bullish divergence-fueled rebound.

The next moves depend on whether DOGE can hold above $0.14 and flip resistance zones near $0.15–$0.16. If bulls reclaim $0.18, a retest of $0.20 becomes more plausible. But a daily close under $0.144 risks deeper losses toward $0.10.