Dogecoin Slides as Key Support Breaks Amid Heavy Liquidations and Weak ETF Demand

Dogecoin plunged nearly 8% after losing its most important support level, triggering a cascade of liquidations and pushing the memecoin toward new monthly lows. The breakdown comes at a time when market sentiment is broadly risk-off, Bitcoin is hovering near multi-month lows, and liquidity across crypto markets continues to deteriorate. Despite anticipation surrounding new DOGE exchange-traded funds, institutional demand remains far weaker than expected. Grayscale and Bitwise’s Dogecoin ETFs attracted only $2.16 million in inflows during their first week — a figure that has done little to restore confidence as large holders continue selling into weakness.

The technical picture for Dogecoin has shifted decisively bearish. DOGE’s fall below the heavily defended $0.1495 support marks a clear structural breakdown, ending weeks of consolidation and signaling the start of a more active downtrend. This support zone had served as the launch point for every rebound since late October, making its loss particularly significant. The move was backed by a dramatic volume spike, with 1.56 billion tokens traded during the selling window — roughly 6.5× typical daily levels — suggesting algorithmic trading and forced liquidations were primary drivers of the decline.

Price action deteriorated rapidly as DOGE slid from $0.1495 to $0.1377 across three consecutive high-volume candles. Attempts to reclaim $0.1383 have repeatedly failed, leaving the token trapped beneath former support turned heavy resistance. With momentum indicators deeply oversold but lacking bullish divergence, traders are treating the current narrow range between $0.1372 and $0.1383 as temporary stabilization rather than a confirmed reversal.

For traders watching the next move, $0.1370 remains crucial short-term support. Losing this level exposes the $0.1350–$0.1320 zone. A meaningful shift in sentiment would require DOGE to reclaim $0.1420–$0.1450 with strong volume, and ultimately to retest $0.1495. Until then, weak ETF inflows, seller dominance, and fading bullish narratives continue to weigh on Dogecoin’s outlook.