Market analyst Harvey Hunter recently reported that the Dogecoin price prediction is heavily pressured by a generalized sentiment of “extreme fear” currently dominating the sector. This bearish scenario has caused an accumulated drop of 16% since the highs recorded earlier this month, while investors cautiously await clear regulatory signals regarding exchange-traded funds. On the other hand, the Fear and Greed Index has plummeted drastically from a neutral level of 43 to its current reading of 12, marking the lowest sentiment point observed since April.
Technical data reveals that the asset is struggling to maintain its structure amidst capital withdrawal from the most speculative tokens. However, critical support currently sits at 0.155 dollars, a level that coincides precisely with the 0.5 Fibonacci retracement of the previous bull cycle. Furthermore, there is a crucial 20-day countdown under Section 8(a) of the Securities Act ending next Monday. If no negative intervention occurs from the SEC, this could officially open the doors to institutional demand through products from Bitwise and Grayscale.
Will institutional interest save Dogecoin from a bigger drop?
The relevance of this moment lies in the unique possibility of obtaining regulated exposure in traditional United States financial markets, differentiating this asset from other memes. Likewise, the bullish narrative depends heavily on this approval, as it would allow the entry of fresh capital flows needed to counteract the current fear. Without this fundamental catalyst, the price’s technical structure could weaken considerably, although a total collapse towards 0.01 dollars seems unlikely given the sustained interest of large asset managers in this ecosystem.
A clean break of the current descending triangle pattern could trigger a measured move of approximately 220% towards the 0.50 dollar zone. Thus, momentum indicators like the RSI show bullish divergences, suggesting that selling pressure might be exhausting itself in lower time frames by forming higher lows. If the positive scenario is confirmed and immediate resistances are overcome, the long-term target could theoretically extend up to 1 dollar, which would represent a potential gain of 540% for investors who hold their positions.
The current landscape keeps the main meme cryptocurrency under strict surveillance while defending key technical support levels against persistent global market volatility. Finally, attention now focuses on the imminent regulatory decision, which will determine if the asset manages to convert the 0.20 dollar resistance into a new solid floor to drive the next cycle. Therefore, although lower support levels exist at 0.115 dollars, the expectation of exchange-traded products remains the main engine of hope to reverse the current trend.
