The Dogecoin price dropped over 4% in the past 24 hours to $0.1503 as of 12:30 a.m. EST as investors reduced their holdings in the leading meme coin. This decline pushed its weekly and monthly performances into negative territory, with a 1% drop over the last week and 4% over the past month.

The Dogecoin price is currently resting on a crucial support level at $0.14972 after being rejected by a major resistance level at $0.159 in the past 24 hours. If DOGE closes a 4-hour candle below $0.14972 within the next 12 hours, it could fall to the next support level at $0.14463, and continued selling pressure might push it down to $0.13881 in the short term. However, if DOGE rebounds off the $0.14972 support, it might rise to the $0.159 barrier. Bulls might then try to turn this level into support, potentially pushing DOGE up to $0.16555 within the next 24 hours.

Technical indicators on DOGE’s 4-hour chart are mixed, indicating a battle between bulls and bears. The Moving Average Convergence Divergence (MACD) line dropped below the MACD Signal line, signaling a bearish phase. However, the Relative Strength Index (RSI) is showing that the gap between it and its Simple Moving Average (SMA) is narrowing, suggesting that bears are losing strength. If buyers keep pressuring sellers, the RSI might soon cross above the SMA, signaling a bullish advantage.

Meanwhile, investors are flocking to the multi-chain Dogecoin derivative ICO, Dogeverse, which has raised over $15 million and is offering a last chance to buy before listing. Dogeverse, the first meme coin on multiple networks, boasts powerful cross-chain capabilities, enhancing liquidity and utility across the cryptocurrency ecosystem. It is deployed on popular chains like Ethereum, Solana, Polygon, BNB Chain, Avalanche, and Base, allowing investors to shift value across chains seamlessly and act on profitable opportunities. Early investors can benefit from a native staking program offering a 55% APY.