Dogecoin Price Breaks Key Support After High-Volume Selloff, Shifting Short-Term Market Structure

Dogecoin (DOGE) experienced a sharp pullback over the past 24 hours, losing critical technical support after a high-volume selloff that has altered its short-term market structure. The popular meme cryptocurrency fell roughly 5.5%, sliding from $0.1367 to $0.1291 as broader crypto market sentiment weakened and traders reduced exposure to higher-risk assets. Meme tokens, including Dogecoin, absorbed disproportionate downside as liquidity thinned and speculative positioning was unwound.

Although there was no single headline catalyst behind the move, the decline aligned with a wider rotation away from risk and fading participation across altcoins. On a higher timeframe, DOGE remains range-bound, but the latest drop marks a clear failure to defend price levels that had held during recent consolidation, forcing traders to reassess near-term risk.

From a technical perspective, the breakdown below the $0.1370 area signaled a decisive loss of short-term trend support. Selling volume surged to approximately 1.63 billion DOGE, about 267% above average, confirming that the move was driven by aggressive flows rather than low-volume drift. Once price slipped below $0.1320, bids thinned rapidly, allowing DOGE to move lower without meaningful pauses. The inability to reclaim the $0.1300 level on the initial rebound attempt keeps short-term bias tilted to the downside, even as momentum indicators begin to stabilize.

Recent price action shows early signs of stabilization near the $0.1290 area, with reduced volume and shorter downside extensions suggesting that forced selling may be fading. Intraday charts indicate the formation of modest higher lows from this base, but upside momentum remains limited as sellers continue to defend the $0.1300 zone, now acting as immediate resistance.

For traders, the $0.1290–$0.1280 region is critical. Holding above this zone could allow DOGE to consolidate, while sustained acceptance below it would open the door to the next support near $0.1250. A decisive reclaim of $0.1300 would be the first signal that downside pressure is easing. Until then, rallies are likely corrective, and volume trends should be closely watched for confirmation of either stabilization or further distribution.