Dogecoin Drops 17% In A Week: What Is Going On?

Dogecoin (CRYPTO: DOGE) has fallen 17% over the past seven days, reaching levels that some traders believe present a prime buying opportunity.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
Dogecoin (CRYPTO: DOGE)	$0.1650	$24.5 billion	+2.3%	-17.3%
Shiba Inu (CRYPTO: SHIB)	$0.00001211	$7.1 billion	+3%	-7.4%
Pepe (CRYPTO: PEPE)	$0.056478	$2.7 billion	+8.3%	-6.7%

Trader Notes: Crypto analyst Kevin explained that Bitcoin is currently back-testing key technical levels, including the 0.5 Fibonacci retracement, macro trend lines and the 200-week SMA & EMA, while the 3-day RSI is at historical lows.

If BTC holds its levels and macro conditions improve, he believes this could be the last chance to buy Dogecoin at a relatively cheap price with a strong risk-reward setup.

Crypto trader Wizz remains bullish, stating that DOGE is his biggest bag and predicting the meme coin could hit $1 or beyond this cycle.

Trader Tardigrade sees DOGE mirroring its previous bottom pattern, highlighting the RSI entering the oversold zone, a second lower low forming while RSI remains stable and a similar setup preceded past bull runs.

"If history repeats, an upcoming Bull Run is ahead," he stated.

#Dogecoin follows the pattern of its last bottom 🔥$DOGE forms an initial low as the RSI falls into the oversold zone, then creates another lower low with a similar RSI reading in the same zone.

If history repeats, an upcoming Bull Run is ahead 🚀 pic.twitter.com/zxLPZrfkOq

— Trader Tardigrade (@TATrader_Alan) March 12, 2025

Statistics: In an X post on March 9, crypto analyst Ali Martinez reported a 270% surge in active DOGE addresses over 24 hours, jumping from 71,750 to 264,000.

Coinglass data shows Dogecoin's open interest increased 5% to $1.4 billion in a single day, while liquidations over the past 24 hours stand at $9.17 million.

The majority of the liquidations remain short liquidations raising curiosity if the meme coin is in for a short-term correction.

Community News: The SEC announced it will delay its decision on multiple crypto ETFs, which includes the Grayscale spot Dogecoin ETF.

Crypto Twitter is buzzing after the SEC accepted the application for the Bitwise DOGE ETF, signaling increasing institutional interest in meme coins.

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•  ‘I Lost Everything’—Trader Turns 0 Into $5 Million, Loses It All With Meme Coins That Were Supposed To Become The Next Dogecoin, Shiba Inu

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