TLDR:
- Dogecoin price is testing $0.21 support, a level that could define its next bullish or bearish move.
- Price retraced from $0.286 to $0.207 while trading volume hit $2.84 billion in 24 hours.
- A bounce at $0.21 could fuel a 32% rally toward $0.275, keeping the higher-low trend intact.
- A breakdown below $0.21 could send DOGE back toward $0.18, erasing its recent bullish setup.
Dogecoin is under pressure. After a sharp drop from its recent high, the price is now testing a key level. Traders are watching the $0.21 zone closely. A strong defense here could fuel a recovery. If it breaks, things might get worse fast.
Dogecoin Price Pullback After Recent High
BitGuru reported that DOGE climbed from $0.17587 to $0.28667, a 63 percent surge, before sliding back. The price now trades around $0.207, slightly below the $0.21 support. This zone once acted as a breakout point, making it critical for short-term direction.
The 4-hour chart on Binance reflects this retracement. DOGEās move down from its local top has shifted focus to this support. Traders are now looking for signs of a reversal before momentum fades.
$DOGE Trying to Pull Back After Sharp Drop
After reaching a local high of $0.28667, $DOGE has retraced significantly and is now hovering just above the key $0.21 support level. pic.twitter.com/zAarLNbjZ5
— BitGuru š¶ (@bitgu_ru) August 1, 2025
The chart shows $0.21003 as the immediate support. A bounce here could trigger a push toward $0.275, nearly 32 percent higher. Resistance remains at $0.28667, the recent local peak.
If $0.21 fails, the next downside targets lie around $0.18 to $0.175. That zone previously served as the base for the last rally. Any drop there could challenge the bullish structure of the current market setup.
DOGE Market Structure Still Intact
Despite the retracement, BitGuru noted that DOGE remains in a higher-low structure. This pattern keeps the broader trend bullish if $0.21 holds. Traders are now tracking volume and candle strength for early signs of recovery.
The pullback is testing the same area where prior accumulation happened. A strong defense here could set up another leg higher. But without enough buying strength, a breakdown remains a risk.
According to CoinGecko, DOGE trades at $0.207 with $2.84 billion in daily volume. The price is down 5.29 percent in the last 24 hours and 10.60 percent over the week. This decline has many traders cautious, but some still expect a rebound from this critical level.
DOGE is now sitting at a make-or-break point. The next move depends on how bulls react at $0.21. If they step in, another push toward previous highs could follow. If not, the path down looks wide open.
