Dogecoin Holds $0.1372 Support After Sharp Selloff
Dogecoin (DOGE) appears to have exhausted immediate downside momentum, finding short-term support at $0.1372 following a steep decline.
Market Context
Crypto markets turned cautious after the Federal Reserve cut rates by 25 basis points to a 3.5%–3.75% target range. While the move was expected, internal Fed divisions and lingering inflation concerns spooked risk assets, prompting broad selloffs. Meme coins, which are highly sensitive to macro shocks, underperformed as Bitcoin slipped below $90,000. DOGE faced accelerated pressure as traders reduced exposure amid heightened volatility, despite no token-specific negative developments.
Technical Overview
DOGE broke critical support at $0.1407 on Dec. 12, with volume spiking 348%, signaling forced liquidation. The session low of $0.1372 marked fading selling pressure, and subsequent lower-volume candles coupled with a rebound forming higher lows completed a V-shaped reversal, indicating short-term stabilization.
Price Action
DOGE declined 2.6% on the session, trading between $0.1413 and $0.1376, a $0.0064 range representing 4.6% intraday volatility. After bottoming at $0.1372, the token stabilized and closed near $0.1376.
