The price of Dogecoin (DOGE) fell by 30% between June 1 and June 29, and two analysts are now suggesting that this decline could lead to Dogecoin hitting a local bottom in July 2026.
Dogecoin price is down 0.28% today, June 29, trading at $0.073 at the time of writing, with storage volumes of $548 million according to CoinMarketCap data.
Analysts reveal downside signals for Dogecoin after recent crash
GVR cryptoanalyzer on X Notes That Dogecoin price is about to reverse from bearish to bullish trend after falling to the range between $0.06 and $0.08.
In a post by
Analyst Krisspax shares the same outlook on Dogecoin price, Saying The price fell to test support at the June 5 low of $0.70 and formed a double bottom pattern.
The bullish outlook on Dogecoin is shared by both analysts Grayscale also revealed that Bitcoin has hit bottom After falling by 50% from $125,000 in October to $60,000 in June 2026.
If Bitcoin does indeed bottom out according to Grayscale’s predictions, Dogecoin, which usually mimics BTC’s price movements, may start to rise just like Crypto analysts GVR and Krisspax predict.
Key Support and Resistance Levels to Watch in Dogecoin Price in July
The bullish outlook for Dogecoin by analysts indicates that it has bottomed, indicating that it has to defend the support level at $0.058 until the trend reverses from bearish to bullish.
The last time Dogecoin traded at this support level of $0.058 was in October 2023, and the price subsequently rose by 82% to reach $0.106 in December 2023.
If buyers start accumulating DOGE at this support level as they did in 2023, the journey up will face the first hurdle at $0.078.
Dogecoin price fell below $0.078 on June 28, and the price now needs to make three consecutive closes above this hurdle to make sure the bulls have a good grip.
The upside that may occur after Dogecoin clears the hurdle at $0.078 will face the next test at the psychological resistance level at $0.10. Clearing this hurdle in July could support the upside Dogecoin long-term price forecast.
An RSI reading of 31 indicates that momentum is still in the bears’ favor. The RSI reading may continue to fall as it did in June 2022 and reach 28. Until this RSI drops to 28, sellers remain in control, and Dogecoin price may fall to $0.06.
Leverage flow supports Dogecoin’s downward signal as OI falls below $1B
Coinglass data shows that over $130 million in long positions were wiped out of the Dogecoin market between June 1 and June 29.
Dogecoin’s open interest also declined from $1.7 billion in May 2026 to $960 billion in June 2026, indicating that most traders evicted by liquidation are not opening new positions.
Calci also launched perpetual futures for Dogecoin On June 24, data from the platform shows that there is very little demand for the products.
DOGE Permanent saw volumes of $150,000 per Kalshi data, which is even lower than SHIB’s volumes of $791 million.
This influx and lower perpetual volumes allow room for Dogecoin price to recover because it reduces the amount of DOGE that long-term buyers sell when DOGE declines.
