Dogecoin USD Decline Reflects Broader Altcoin Weakness and Technical Deterioration

Dogecoin USD (DOGEUSD) has experienced a significant decline in recent days, falling 3.79% over the past day. This downward pressure is attributed to two primary factors: broader altcoin selling pressure and technical deterioration. The decline reflects risk-off sentiment in crypto markets, where traders exit speculative positions during macro uncertainty.

The volume data shows reduced buying interest at current levels, with 1.00 billion DOGEUSD traded daily, down from the 1.28 billion average. The 50-day moving average sits at $0.1136, well above the current price, signaling that Dogecoin USD has broken below intermediate support.

Meyka AI's forecast suggests a potential recovery for Dogecoin USD, with a target price of $0.2263 for the year 2026. This implies a significant upside from current levels, assuming improved altcoin sentiment and stable macro conditions. However, traders should be cautious as oversold conditions suggest a potential bounce may face resistance from sellers.

Traders monitoring Dogecoin USD should focus on the $0.1136 resistance as the key level that would signal a reversal in the current downtrend. Until broader crypto markets stabilize, DOGEUSD will likely remain under pressure despite oversold technical readings.