Dogecoin has extended its recent slide but has re-entered a long-term support zone around $0.08, where past rebounds began.

On June 19, The Crypto Basic reported that the market is again reviewing the possibility of a mid- to long-term rebound if this zone does not break.

Dogecoin traded around $0.082. It was down about 0.58 percent over 24 hours and posted a weekly decline of 6.3 percent. The move coincided with broader weakness across cryptocurrencies after bitcoin at one point slipped below $63,000.

Price action shows a clear bearish trend, but the current zone is technically significant. On the weekly chart, dogecoin fell to $0.080 in early February and then moved in a range. It rebounded to $0.118 in May, but selling pressure increased there and it slipped again. In the first week of June it dropped to $0.077, but buying interest came in and prevented further declines.

Market participants are focusing on the fact that dogecoin is still holding support near $0.080. Despite recent weakness, the downward move has repeatedly eased in this area and has not led to a deeper structural breakdown.

The zone also served as a long-term accumulation area in the previous cycle. From May 2022 to February 2024, dogecoin moved for a long time near the lower end of a broad accumulation range. After holding support near $0.050 then, it rose to $0.484 in December 2024. The key question is whether a similar pattern can repeat this time.

Still, defending support alone is not enough for rebound expectations to materialise. Dogecoin needs to break out of its range and reclaim key moving averages, followed by a break above upper resistance. A long-term resistance level to watch is $0.228, the March 2024 peak. That is 178 percent above the current price. The next resistance level is $0.306, the September 2025 peak, 273 percent above the current level.

The upper end of the bullish scenario was also discussed. With strong buying momentum, calculations show dogecoin could rise 802 percent to $0.74, its current all-time high (ATH). Beyond that, a $1 dream is still possible, but only if the broader crypto market enters a long-term uptrend and conditions similar to 2021 reappear.

The market sees whether dogecoin can hold the long-term support zone around $0.080 as a key variable that will determine the next move. If buying interest holds at this level, there is room for a rebound attempt after long-term accumulation as in the past. If it fails to reclaim the top of the range and key moving averages, the upside scenario could remain limited. If a break below support is confirmed, expectations for a mid- to long-term recovery could weaken again.