Dogecoin Price Plunges 5% As Traders Flock To This 2.0 DOGE

Dogecoin Price Prediction: DOGE Plummets 5% As Traders Flock To This Meme Coin Rival That’s Nearing $1M In Presale

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Updated: 12 August 2025

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The Dogecoin price plummeted 5% in the last 24 hours to trade at $0.2256 as of 9:21 a.m. EST as investors offload their holdings in the meme coin on the market.

Despite the recent loss, the DOGE price is still up more than 10% on the longer-term weekly time frame.

Dogecoin Price Forms A Medium-Term Negative Trendline

Daily chart for DOGE/USD (Source: GeckoTerminal)

The Dogecoin price printed a second higher low in the last couple of days, resulting in the formation of a medium-term negative trendline, data from GeckoTerminal shows. Now, the meme coin is closing on the support level at $0.2207.

If the crypto breaks below that technical safety net within the next 24 hours, it could be exposed to the risk of falling all the way down to $0.1871 in the short term should bulls opt to stay in the sidelines.

On the other hand, traders identifying the current Dogecoin price as a buy opportunity could invalidate that bearish thesis. In this alternative scenario, the leading meme coin might try to overcome the descending trendline.

A clear break above this barrier with enough volume could then result in a breach of the $0.2442 resistance and a potential rise to $0.2859 if the bullish pressure persists.

Technicals Warn Bears Are Slowly Taking Control Of The Dogecoin Price

Looking at technical indicators on the daily chart, such as the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI), it seems bears are slowly trying to take complete control of the Dogecoin price.

Over the last few days, the MACD line has consistently dropped towards the MACD Signal line. Now, the two lines are trading at almost identical levels. This could lead to a bearish crossover in the coming 24 hours. Traders might then see this as a sell signal, and start to flood DOGE’s order books with bearish pressure.

Meanwhile, RSI readings have dropped over the last few days as well. This usually suggests decreasing buyer strength. While the latest reading remains bullishly above the neutral 50 mark, there is the possibility that the decline over the last few days will continue in the short term. If this does happen, a drop below 50 is likely, signaling that sellers have gained the upper hand.

As bears try to take over DOGE’s charts, investors are flocking to a new meme coin called Maxi Doge Token (MAXI). According to popular crypto YouTuber Crypto Tech Gaming, who has over 88.2K subscribers, MAXI could be the next 100x meme coin.

A Meme Coin Chasing 1,000X Leveraged Gains

Maxi Doge is a new meme coin project that encourages traders to embrace their true degen side when it comes to chasing green candles and parabolic gains in the crypto market. The project’s mascot is a buff Shiba Inu that embraces a high-risk, high-reward lifestyle.

Forget stop losses and risk mitigation, Maxi Doge is all about taking on uncomfortable levels of risk in pursuit of generational wealth. After all, nobody ever achieved life-changing gains by playing it safe.

MAXI is a call for all degen traders to unite. It’s true meme coin appeal aims to draw traders in from across the globe who are relentless at chasing trading opportunities.

To incentivize traders to take on high levels of risk, MAXI will distribute rewards to the community’s top ROI hunters.

The project’s tokenomics also show a project that is heavily-geared towards marketing and exposure. 40% of MAXI’s supply has been set aside for spreading the word, whether it be via marketing campaigns, paid ad calls or other initiatives.

Investors Bet Big On MAXI’s Future

Investors have already pumped more than 743K into MAXI’s recently-launched presale, signaling strong confidence in the project’s future.

Interested investors can acquire some MAXI via the simple widget embedded on the project’s website. Selling for $0.0002515, MAXI can be bought with either crypto or bank card.

Once purchased, investors can also put their tokens to work through the project’s presale staking pool that currently offers a 382% APY.

To secure the best presale deal, investors will want to act fast. MAXI’s price will rise as its presale progresses, with the next ICO price hike scheduled to take place in less than 9 hours.

Check out MAXI on its official website.