DOGE News: Panshibi (SHIBI) Presale Impact and Declining DOGE Prices Spark Concerns

DOGE Price Prediction and Panshibi (SHIBI) Presale Impact

Despite the recent market-wide downturns, the new Panshibi (SHIBI) has been tipped to become a leading meme coin in 2025. Many investors, including DOGE and Optimism (OP) holders, are switching to SHIBI. DOGE has slumped to $0.20356, a 20% decline over the past seven days, partially due to the LIBRA token crash. This has sparked fears about the meme market and triggered selling.

Dogecoin (DOGE) Continues Bearish Trend

Dogecoin (DOGE) has seen a significant price drop of over 59% from its December peak due to heavy selling pressure. With open interest at $2.21 billion and declining transaction volumes, Dogecoin struggles to regain momentum amid weakening market sentiment. Long-term holders are in denial as Dogecoin fails to hold support.

Dogecoin (DOGE) Approaches $0.168 Support—Can Bulls Drive It Back to $0.50?

Dogecoin has plunged 61.33% from its December 8 peak of $0.4843, now trading at $0.18727, nearing the $0.16865 support level. Over the last 24 hours, the meme-based cryptocurrency has shed 9.35%, pushing it closer to a crucial support zone. Analysts suggest that this level might be a turning point, especially with a classic “Cup & Handle” pattern emerging on the chart. A technical analysis indicates that $0.29124 is a key breakout level, with analysts eyeing $0.50 – $0.60 in the short-term, and long-term targets reaching up to $5.