Dogecoin Breaks Weekly Support as Bearish Outlook Strengthens

Despite its recent return to a long-term accumulation zone near $0.07, Dogecoin's (DOGE) short-term structure remains weak due to its break below weekly support at $0.071.

This breakdown has strengthened the bearish outlook and increased the risk of further losses towards $0.065 and $0.061.

The accumulation zone, identified by analyst Surf as the blue region around $0.055 to $0.080, has previously attracted buyers during earlier market corrections.

However, a decisive breakdown below this zone would invalidate the accumulation argument and expose DOGE to further losses.