Dogecoin (DOGE), the largest meme coin by market capitalization, has declined 12% over the past month. A recent drop below a critical price level suggests sellers may be gaining control, though some analysts see early signs of a potential bullish reversal.

DOGE remains one of the most closely watched meme assets because its price action is often shaped by broader crypto risk appetite, social-media attention, and liquidity conditions rather than project-specific revenue or cash-flow metrics. That makes technical levels and sentiment gauges especially prominent in short-term market commentary, even though they do not provide certainty about future moves.

Bears in Control Below $0.071

DOGE has fallen approximately 5% over the past 24 hours and is currently trading around $0.069, according to CoinGecko data.

The X account BSCN highlighted that in its weekly anomaly report, Santiment flagged Dogecoin as “hype without news,” warning that a price decline below $0.071 would hand control to sellers. “Santiment's core read was that DOGE trades as amplified Bitcoin beta, falling harder in selloffs, and this session proved it on cue,” the account added.

According to the analytics platform, a quick reclaim of the $0.071 zone would repair the bearish setup, while remaining below it would indicate continued bearish dominance.

Other market observers shared mixed views. Kamran Asghar stated that the token is approaching “a make or break” level, predicting that “the next big move could shock everyone.” Meanwhile, Scient took a firmly bearish stance, expecting further declines in the coming days.

Bullish Signals Emerge

Despite the poor recent performance, analyst Ali Martinez noted that DOGE's weekly TD Sequential indicator has flashed multiple consecutive buy signals. He described the development as “a rare setup that could be warning a major bull rally is approaching.”

The TD Sequential is a technical tool used by some traders to identify potential exhaustion points in a trend, so the signal is typically read as a timing indicator rather than a confirmation of a reversal. In DOGE's case, that leaves analysts weighing the buy signals against the token's failure to hold the $0.071 area.

X user Cryptollica echoed a contrarian sentiment, pointing to the “dead attention” surrounding Dogecoin. They suggested the current lack of interest represents an opportunity, stating: “Invest when no one else cares. That way, you will make money.”

Institutional Interest Remains Limited

On the institutional front, spot DOGE ETFs recorded their first green day since mid-June earlier this week. However, capital inflows into these products remain negligible, and broader adoption by major players such as pension funds and hedge funds would need to increase significantly to have a meaningful impact on price.

For now, the key areas traders are monitoring are whether DOGE can regain the $0.071 zone cited by Santiment and whether ETF flows show any sustained improvement beyond a single positive day.

Source: CryptoPotato