coindesk.com
Dogecoin slipped as traders continued rotating out of higher-beta names, with memecoins underperforming broader crypto through the session.
News Background
The immediate catalyst wasn’t a fresh headline, but positioning around a large exchange-bound DOGE transfer that resurfaced as price failed to regain higher levels.
Once DOGE rejected the $0.15 area earlier this month, confidence thinned quickly. As price slipped back toward $0.13, sellers pressed the move and forced a technical break, flushing out weak longs before the market attempted to stabilize.
That pattern — rejection at resistance, followed by a sharp liquidation-driven slide — has become familiar across memecoins during periods of fading risk appetite.
Technical Analysis
DOGE broke down from repeated failures near $0.137–$0.138, accelerating lower as selling intensified. The move extended to a low near $0.125, before bids emerged around $0.127, where price has since stabilized.
Volume spiked aggressively on the breakdown, consistent with forced selling rather than orderly distribution. After the flush, trading compressed into a narrow band near support — a sign liquidation pressure has eased, but not yet proof of a reversal.
Structurally, DOGE remains below former support, which now flips into resistance.
Price Action Summary
- DOGE fell 7.35%, sliding from $0.137 to $0.127
- Selling accelerated after repeated failures near $0.137
- Price briefly dipped toward $0.125 before stabilizing
- DOGE underperformed the broader crypto market during the move
What traders should know
This looks like a post-flush stabilization, not a confirmed bottom.
If $0.127 holds and DOGE can reclaim $0.13, traders will look for a slow grind higher — but the real test remains $0.137, where the last breakdown began. A move back above that level would suggest the selloff was largely positioning-driven.
If $0.127 gives way, downside opens toward $0.125, with risk of a deeper slide as the liquidation “floor” breaks.