If you still hold Dogecoin, you might need to seriously review your positions now. The latest market data is quite disheartening—DOGE has already lost the critical support at $0.126, and market sentiment has dropped to freezing point.

**Seemingly calm, but actually turbulent beneath the surface**

DOGE's current price is stuck at $0.12546, with a 24-hour change of almost zero (only 0.01%), which sounds stable, but the charts tell a different story. The price has broken through the previously mentioned support zone of $0.126-$0.127 and is now repeatedly testing between $0.12522-$0.12568, like walking a tightrope on the edge of a cliff. From a high of $0.13062 to the current level, each wave has been a gradual decline, with the lowest touching $0.12168, clearly in a downward channel.

The most heartbreaking part is—the trading volume is shrinking. Sideways movement at low levels combined with dried-up volume? This is usually not a sign of bottoming out but a dangerous signal of a continuation of the decline.

**Technical indicators are all warning signals**

The Bollinger Bands look very ugly: the price has already fallen below the middle band (0.12475) and is running right along the lower band (0.12302). Even worse, the entire Bollinger Band is opening downward, indicating increased volatility, not a good sign. The UB line (0.12649), which once served as support, has now become a strong resistance.

The MACD is also showing issues. The DIF is at 0.00061, and DEA is at 0.00096, suggesting a potential golden cross, but the MACD histogram is only at a pitiful 0.00072. In a downtrend, such a weak golden cross is often a trap and can easily turn into a death cross.

Momentum indicators are also weakening, and the overall technical outlook doesn’t look promising. The short-term rebound space might be very limited, so a cautious attitude is still necessary.