Dogecoin Stabilizes at $0.1372 After Sharp Selloff
Dogecoin (DOGE) appears to have exhausted immediate downside momentum, finding key short-term support at $0.1372 following a sharp decline.
Market Context
Crypto markets turned cautious after the Federal Reserve cut rates by 25 basis points to a 3.5%–3.75% range. While expected, internal Fed divisions and ongoing inflation concerns rattled risk assets, triggering broad selloffs. Meme coins, which are particularly sensitive to macro volatility, underperformed as Bitcoin slipped below $90,000. DOGE came under additional pressure as traders reduced exposure, despite no token-specific negative news.
Technical Analysis
DOGE broke crucial support at $0.1407 on Dec. 12, with volume spiking 348%, indicating forced liquidations. The session low of $0.1372 marked easing selling pressure, and subsequent lower-volume candles and a rebound with higher lows completed a V-shaped reversal, suggesting short-term stabilization.
Price Action
DOGE fell 2.6%, trading between $0.1413 and $0.1376, a $0.0064 range reflecting 4.6% intraday volatility. After bottoming at $0.1372, the token stabilized and closed near $0.1376.
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