Dogecoin, a memecoin previously backed by Elon Musk, is facing market pressure after being excluded from the 2025 integration plan of cryptocurrency on X.
Exclusion of Dogecoin from X's Crypto Roadmap
According to leaks from the Financial Times, X's 'Super App' strategy includes a crypto payment integration powered by Visa, with no mention of Dogecoin. This surprised the market given Elon Musk's longstanding promotion of DOGE on the platform. The omission raises speculation that Dogecoin may not play a central role in X's fintech ecosystem, triggering a wave of sell-offs.
Technical Analysis of Dogecoin
Dogecoin is now trading below several critical technical levels:
* 10-day SMA: DOGE is trading below the short-term average of $0.176, indicating near-term weakness. * 50-day SMA: The more important medium-term average at $0.201 has been breached, confirming a shift to bearish momentum. * RSI: The 14-day Relative Strength Index sits at 31.94, signaling oversold conditions but showing no bullish divergence.
One of the last remaining support zones is the $0.159 swing low, which corresponds with the 78.6% Fibonacci retracement level from the previous rally. If this level fails, Dogecoin could potentially fall towards $0.14.
Broader Market Context
Dogecoin's decline also mirrors wider altcoin weakness:
* Bitcoin dominance has risen to 64.4%, siphoning capital away from memecoins and speculative assets. * The Crypto Fear & Greed Index dipped to 43 (Neutral), indicating growing investor caution. * Trading volume surged 11% to $832 million, but the spike appears to reflect panic selling, not accumulation.
If current bearish pressure persists and the $0.159 level is decisively broken, Dogecoin may target $0.148 or $0.136–0.140. In the short term, DOGE may struggle to reclaim lost levels unless sentiment improves.
