Dogecoin price faces concerns of a potential crash in June as it hovers near key support levels and shows bearish signals on the charts.
The daily chart indicates Dogecoin has broken below important moving averages and is close to the 100-day SMA, suggesting a possible 21% drop to $0.150 if crucial support fails.
Elon Musk's departure from his role linked to Dogecoin is seen as a significant development, as his involvement has been a major driving force behind the coin's value and sentiment.
While a complete crash to zero is unlikely without extreme circumstances, a significant decline to $0.10 or even $0.05 is plausible if key support levels at $0.188 and $0.150 give way, supported by weakening social media interest and trading volume.