Dogecoin Plunges 7% as Risk Appetite Evaporates – Meme Coin Feels the Squeeze
Dogecoin takes a nosedive as traders ditch speculative assets. The meme-inspired cryptocurrency dropped 7% amid a broader retreat from risk-on markets—proving once again that even internet jokes aren''t immune to gravity.
No fundamentals harmed in the making of this dip. The selloff comes as capital rotates out of crypto''s casino-tier assets—because nothing says ''mature asset class'' like double-digit swings before lunch.
Watch those leverage positions. With volatility spiking, DOGE bulls might want to check their margin balances before the next meme-fueled rally attempt.
Price Action
The sharpest sell-off came during the 15:00–16:00 window, where Doge saw nearly 700 million units traded as price dropped below key support. Buyers stepped in at $0.164, lifting DOGE into a range between $0.168 and $0.171.
Late-session trading showed price stabilizing above $0.170, with a bullish push at 01:21 sending DOGE to $0.1719 before fading. Price action since has traced a descending triangle with lower highs forming against flat support.
Technical Analysis Recap
- DOGE fell from $0.176 to $0.164, a 6.7% drop, before finding support.
- Most intense selling hit during 15:00–16:00 with volume nearing 700M.
- Support formed at $0.164, followed by consolidation between $0.168–$0.171.
- Bullish push at 01:21 hit $0.1719 but was quickly rejected.
- Volume declined sharply in the final hours, with most candles under 3M.
- Descending triangle pattern formed, with resistance at $0.171 and support at $0.1705.
Disclaimer: Portions of this article were generated with the assistance of AI tools and reviewed by CoinDesk’s editorial team for accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
