Slides 5.5% as $0.19 Support Breaks on Increased Volume

Dogecoin dropped below the crucial $0.1940 support level during Tuesday’s trading, falling 5.5% to $0.1843 as institutional selling pressured buyers. This decline was accompanied by a significant 180% surge in volume, highlighting renewed selling pressure across the meme coin sector amidst broader risk-off sentiment in the cryptocurrency markets.

News Background

• DOGE declined from $0.1951 to $0.1843, marking one of its largest one-day drops this month.
• The decrease occurred within a $0.0174 trading range, representing 9.4% intraday volatility, as market participants unwound leveraged positions after repeated resistance rejection.
• Trading volume surged to 1.17 billion tokens, nearly 180% above daily averages, as sell-side flows accelerated during midday. Volume remained above 995 million for several hours, confirming institutional-scale liquidation.
• Price briefly stabilized around $0.1765, where attempts to buy the dip surfaced but failed to reverse the downward trend.
• The session’s weakness reflected broader softness within speculative digital assets; however, Dogecoin’s 43% year-to-date gain keeps it among the stronger major-cap performers of 2025.
• The immediate focus now is on whether bulls can regain control after significant technical damage to the short-term structure.

Price Action Summary

• The breakdown initiated early Tuesday as DOGE broke below $0.1940, a key level that had consistently acted as a short-term floor in October.
• Institutional orders entered the market in clusters, driving volumes significantly above statistical norms and resulting in a drop to $0.1840 intraday.
• Following a short recovery attempt, DOGE traded within a narrow $0.1850–$0.1860 range, indicating stabilization but not confirmation of support.
• Momentum indicators displayed marked bearish divergence, with RSI nearing oversold conditions on both hourly and four-hour charts. Additionally, futures open interest slightly decreased, indicating some deleveraging among speculative traders.

Technical Analysis

• DOGE’s technical profile remains delicate following the loss of $0.1940 support. The price pattern has completed a fifth wave within a corrective sequence, suggesting that near-term exhaustion could occur before a potential base forms around $0.1840–$0.1765.
• Volume data supports that large participants drove the decline: daily turnover surpassed 1.17B tokens, indicating institutional distribution.
• The selloff has diminished DOGE’s liquidity footprint, with total daily flows decreasing from $20B earlier in October to approximately $5B, a situation limiting breakout potential until new demand emerges.
• Resistance now lies around $0.1950, with a more significant supply cluster near $0.218, identified by analysts as a pivotal battleground for bulls aiming to reclaim higher trend structure.

What Traders Should Watch

• Traders are keeping an eye on whether DOGE can maintain above the $0.1840 base and avoid a retest of the $0.1765 level, which defines short-term structural integrity.
• A sustained reclaim above $0.1950 would neutralize the immediate bearish bias, yet continued weakness below this threshold keeps downside targets in play.
• For the time being, the situation suggests cautious positioning as traders await confirmation that selling pressure has subsided near current supports.