Dogecoin Slides Nearly 9% on Institutional Pressure, Stabilizes at Support Zone

Dogecoin Sinks 9% Amid Broader Crypto Pullback, Finds Support Near Key Level

Dogecoin (DOGE) tumbled 9% Monday, marking one of the steepest declines among major cryptocurrencies as risk sentiment weakened across digital assets. The selloff followed rising macro uncertainty and reduced market appetite for speculative tokens.

Macro Backdrop

DOGE’s drop mirrors a risk-off shift in crypto markets as traders react to sticky inflation and central banks rethinking the pace of interest rate cuts. Heightened geopolitical tensions and trade policy uncertainty have also curbed institutional participation.

The meme token briefly touched a session high of $0.248 early in the day but quickly reversed as selling pressure mounted in U.S. trading hours. Despite a late-session recovery, DOGE was unable to reclaim key resistance around $0.24, closing at $0.226.

Price Action Recap

• Open: $0.240
• High: $0.248 (early session)
• Selloff Window: 13:00–14:00, with price dropping below $0.230 and volume spiking to 918M
• Low: $0.223
• Close: $0.226, after bounce from key support zone

Technical Landscape

• Range: $0.025 (10.39%) from high to low
• Resistance: $0.240–$0.241 remains a key ceiling
• Support: $0.223 held firm on second test, supported by 553M volume at the close
• Momentum: Bearish overall, but stabilizing as sell-side volume shows signs of decline

Short-term technical indicators suggest DOGE may have found a near-term floor, with accumulation activity visible in the $0.223–$0.225 band. A rebound pattern on the hourly chart points to possible consolidation.

Outlook

• Bullish Trigger: A breakout above $0.241 could signal a reversal
• Bearish Risk: A break below $0.223 may open downside to $0.215–$0.218
• Macro Watchpoints: U.S. inflation data and upcoming FOMC commentary are key catalysts that could drive risk asset sentiment

While the near-term trend remains under pressure, DOGE is showing signs of stabilization. However, traders remain cautious as macro headwinds continue to cloud the outlook for meme coins and high-beta crypto assets.