Dogecoin (DOGE) price has signaled further midterm weakness. The top-tier memecoin dropped over 5% during the past 24 hours to trade at about $0.1255 on Wednesday, December 17, 2025, during the mid North American session.
Dogecoin Price Faces a 20% Drop Before a Relief Rally
The dog-themed memecoin has dropped over 15% during the past seven days, hence slipping below a crucial support trendline. The sustained year-to-date bearish sentiment for the DOGE price has invalidated the macro bull trendline established since February 2024.
Consequently, Dogecoin price is well positioned to drop around 20% to retest its 2024 support level around $0.1. The midterm bearish sentiment for DOGE price is bolstered by the MACD indicator, after the MACD and the signal lines dropped below the zero line amid rising bearish histograms.
The Memecoin Industry Bleeds
Following the sustained Dogecoin weakness since the October 11 crypto crash, the wider memecoin industry has been bleeding out. During the past 24 hours, the total market cap for memecoins dropped 8% to hover around $41.4 billion
Major memecoin projects led by Pudgy Penguins (PENGU), Pepe (PEPE), Shiba Inu (SHIB), and Bonk (BONK) have dropped over 15% in the past seven days. The memecoin rout is expected to continue in the coming days and potentially weeks amid the wider low bullish sentiment.
What’s Next for Holders?
The next phase for memecoins will be heavily influenced by the crypto regulatory outlook in the United States and the mainstream adoption rate from global investors. According to a thesis from Bitwise, the crypto market will rebound in 2026 after bleeding in 2025.
“Forces like the bitcoin halving, interest rate cycles, and crypto booms and busts fueled by leverage are weaker than in past cycles. Institutions like Citi, Morgan Stanley, Wells Fargo, and Merrill Lynch entering the space, allocations to spot ETFs, and onchain building will accelerate in 2026. The pro-crypto regulatory shift will continue to allow companies to adopt crypto at a faster rate,” Bitwise stated.
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