Dogecoin (DOGE) has already lost more than 46% so far this year, according to CoinMarketCap, as selling pressure and a broader slump in meme coins weigh on the token.
Crypto analyst @ColinTCrypto took to X to sound a notably bearish note on DOGE, calling it a “weak altcoin” and urging investors to avoid holding it in the current risk-off environment. He points to persistent geopolitical tensions and rising energy costs as part of the macro backdrop pressuring risk assets.
Technically, Colin’s post included a chart tracing Dogecoin’s move from its 2021 peak to today. After the last bull run DOGE mostly traded sideways with brief rallies, but the overall picture has been volatile and gradually down. He says that pattern has produced a white triangle formation and that DOGE has already slipped to a first key support around $0.09 — the token’s price at the time of his post. If that support fails, his chart’s downward projection points to a potential next target near $0.073, roughly a 20% drop from $0.09.
Other analysts are sounding similar warnings. Market commenter Osemka argued on X that altcoins have little room to run and could break down soon, while others note that DOGE has been “getting slammed” by its exponential moving averages for the past three weeks — a technical sign consistent with further downside risk.
That said, the outlook isn’t guaranteed: markets remain volatile and a held support at $0.09 would undermine the most bearish case. For now, analysts say the combination of weak crypto sentiment, macro headwinds and technical pressure leaves Dogecoin vulnerable to further declines.
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