- Dogecoin broke below the prior swing low, indicating a potential downtrend continuation.
- Sellers dominate the market, with no signs of reversal in the short term.
- DOGE is in a retracement phase, searching for a new support zone to stabilize.
Dogecoin has continued to decline after losing its previous support zone, causing a significant shift in structure. The asset recently broke below the prior swing low, forming what traders classify as a Break of Structure (BOS). This technical move confirmed further weakness in the current trend, signaling a potential attempt to search for a new support area.
Technical Breakdown Signals Weaker Momentum
After falling below the critical swing low, Dogecoin confirmed a bearish structure. This move aligns with a BOS formation, which often marks the beginning of a new trend direction. The current price movement shows no signs of a reversal yet, as sellers continue to dominate the chart. According to an analysis prepared by Trader Tardigrade, The DOGE 4-hour chart shows a consistent bearish structure with consecutive lower highs and lower lows.
The price formed a lower high of nearly $0.22 before dropping and breaking the structure at $0.17. This breakdown created a new lower low of around $0.13, confirming bearish momentum. A retracement pushed the price upward, but it failed to break previous highs, stalling below $0.21. Another lower high formed, followed by a sharp drop and a clean break of structure near $0.15.
The market continued to fall, establishing a fresh low close to $0.12. Each bearish order block was respected, with price rejecting the supply zones clearly marked. The trend direction has not shifted, and sellers continue controlling key levels. The chart displays a clear distribution with price respecting resistance and rejecting bullish advancement consistently.
Dogecoin Current Market Action
At the time of press, CoinMarket data indicates that Dogecoin was priced at $0.1478 on April 7, 2025, down 4.17% in 24 hours. Its 24-hour trading volume reached $3.72 billion, marking a 394.30% surge. The market cap stood at $21.99 billion after a 4.20% decline. DOGE maintained a total and circulating supply of 148.75 billion tokens with no supply limit. The fully diluted valuation (FDV) matched the market cap at $21.98 billion. The volume-to-market cap ratio over 24 hours was recorded at 16.91%.
The price fluctuated between $0.130 and $0.154 within the displayed time range. A sharp dip occurred around 10:00 AM before a strong recovery followed in the afternoon. DOGE experienced high volatility with repeated surges and drops throughout the day. The price later stabilized near $0.147 after several small corrections.
Following the BOS, Dogecoin is now in a retracement phase and actively searching for support to stabilize. If support is not found soon, a continuation of the downtrend remains possible. The price remains under the broken structure, maintaining bearish pressure. With momentum favoring downside action, the search for a bottom continues.
