Dogecoin Slides 9% Amid Risk-Off Sentiment, But Finds Support Near Key Levels
Dogecoin (DOGE) led losses among major digital assets on Monday, falling 9% as investors pulled back from riskier tokens. The drop mirrors a broader downturn in crypto markets, driven by macroeconomic uncertainty and shifting expectations around global monetary policy.
Market Context
DOGE’s sharp decline reflects renewed caution across crypto markets, as central banks delay interest rate cuts in response to persistent inflation. Geopolitical headwinds and trade-related unease have further cooled investor appetite, particularly among institutions with exposure to speculative assets.
The meme coin touched an intraday high of $0.248 early in the day but failed to sustain momentum. Selling pressure accelerated during U.S. trading hours, dragging DOGE to an intraday low of $0.223 before a modest recovery to $0.226.
Price and Volume Highlights
- Opening Price: $0.240
- Intraday High: $0.248
- Selloff Period: Sharp decline between 13:00–14:00, volume surged to 918 million
- Session Low: $0.223, followed by stabilization into the close
- Accumulation Zone: $0.223–$0.225, with increased volume suggesting potential institutional entry
Technical Picture
- Trading Range: 10.39% between session high and low
- Resistance: $0.240–$0.241 remains a ceiling after multiple rejections
- Support: $0.223 tested twice and held firm on strong closing volume (553M)
- Momentum: Bearish overall, but declining sell-side volume and rebound patterns hint at possible bottom formation
What to Watch
- A confirmed breakout above $0.241 would suggest a shift in short-term trend
- Failure to hold $0.223 could open the door to further losses toward the $0.215–$0.218 range
- Key upcoming catalysts include U.S. inflation data and Federal Reserve commentary, which may impact risk appetite
- For now, traders remain cautious, with sentiment fragile and capital flows limited across meme tokens like DOGE
