Dogecoin (DOGE) experienced a sharp price drop following a market-wide decline prompted by the U.S. market opening on March 10, 2025.
DOGE Current Price Momentum
Amid the price decline, DOGE has dropped over 6.5%, falling below the key level of $0.17 and currently trading under $0.16. This marks the first time in the past three months that DOGE has fallen below this crucial level.
Dogecoin (DOGE) Price Action and Upcoming Levels
According to expert technical analysis, DOGE appears bearish as it has failed to hold the $0.17 level. Based on recent price action and historical patterns, this breakdown suggests a strong possibility that the asset could drop another 20%, reaching the $0.125 level in the coming days.
$31 Million Worth of DOGE Outflow
Despite the bearish market sentiment, the meme coin has seen a notable outflow from exchanges, according to on-chain analytics firm Coinglass. Data from spot inflows and outflows reveal that, in the past 24 hours, exchanges have recorded an outflow of $31 million worth of DOGE, indicating potential accumulation.
In conclusion, despite the current challenging market conditions, Dogecoin continues to draw attention from traders due to large exchange outflows, indicating potential accumulation and subsequent growth.
