Dogecoin Falls 5.5%, Trading Volume Surges 180% Above Average

Dogecoin (DOGE) has experienced a significant selloff, prompting traders to question if this is a temporary setback or a fundamental shift in valuation.

DOGE dropped by 5.5% in the past 24 hours, falling from $0.1367 to around $0.129 and briefly touching $0.1266.
The decline broke through key support levels at $0.1370 and $0.1300, leading to increased trading volume of about 1.36 billion tokens, indicating active selling.
DOGE is trading below its 100-hour simple moving average with resistance forming near $0.1340.
Attempts to regain $0.1300 have failed, reinforcing it as immediate resistance.

Sentiment vs. Price Action

Despite the price drop, DOGE maintains a strong online presence, with public endorsements and cultural callbacks noted.
DOGE remains significantly below its all-time high, with a sharp year-to-date decline and reduced open interest, suggesting lower speculative activity.

Key Levels for Traders

Focus is on the $0.1290–$0.1280 zone; holding above could allow consolidation.
A break below may target support near $0.1250 and potentially $0.1200.
Reclaiming $0.1300 might indicate easing downside momentum, but $0.1340 remains a hurdle.

DOGE is currently in a fragile stabilization phase, with trading driven more by confirmation than conviction.