Dogecoin Holds at $0.1372 After Sharp Selloff
Dogecoin (DOGE) appears to have exhausted near-term downside momentum, stabilizing around $0.1372 after a steep decline.
Market Context
Crypto markets turned cautious following the Federal Reserve’s 25-basis-point rate cut to 3.5%–3.75%. Though expected, internal Fed divisions and ongoing inflation concerns rattled risk assets, triggering broad selloffs. Meme coins, highly sensitive to macro volatility, underperformed as Bitcoin slipped below $90,000. DOGE faced additional pressure as traders pared exposure, despite no token-specific negative news.
Technical Overview
DOGE broke key support at $0.1407 on Dec. 12, with volume spiking 348%, indicating forced liquidation. The session low of $0.1372 marked easing selling pressure. Subsequent lower-volume candles and a rebound forming higher lows completed a V-shaped reversal, signaling short-term stabilization.
Price Action
DOGE declined 2.6% for the session, trading between $0.1413 and $0.1376—a $0.0064 range, reflecting 4.6% intraday volatility. After bottoming at $0.1372, DOGE stabilized and closed near $0.1376.
