DOGE Leads Market Declines With 9% Drop, Finds Support Amid Broader Crypto Pullback
Dogecoin (DOGE) fell sharply on Monday, dropping 9% to lead losses among major digital assets as broader crypto markets faced renewed selling pressure. The decline came as macroeconomic uncertainty weighed on investor appetite for riskier tokens.
Sentiment Sours on Macro Concerns
DOGE’s decline tracked a global risk-off tone driven by persistent inflation and speculation that central banks may pause or reverse planned rate cuts. Geopolitical instability and trade uncertainty also dampened speculative flows, particularly from institutional players.
DOGE surged to an intraday high of $0.248 in early Asian trading but encountered strong resistance and reversed sharply during U.S. hours. Despite a modest late-session recovery, it closed below the key $0.24 level, ending at $0.226.
Key Market Moves
- Session Open: $0.240
- High: $0.248 by 05:00 UTC
- Sharp Drop: Between 13:00–14:00 UTC, DOGE fell below $0.230 on volume nearing 918 million
- Low: $0.223
- Close: $0.226 after a modest bounce from session lows
Accumulation signals emerged at the $0.223–$0.225 range, with high-volume buying suggesting institutional players may be building positions at perceived support levels.
Technical Setup
- Trading Range: $0.025 (approx. 10.4%) from peak to trough
- Resistance: Firm at $0.240–$0.241, tested and rejected multiple times
- Support: $0.223 zone held, backed by strong closing volume (553M)
- Momentum: Bearish bias remains, though short-term indicators suggest stabilization may be underway
A potential rebound pattern on intraday charts could hint at a base forming, but confirmation will depend on follow-through volume and price action above resistance.
What’s Next for DOGE
- A sustained move above $0.241 would be needed to confirm a trend reversal
- Failure to hold $0.223 could expose DOGE to further downside toward $0.215–$0.218
- Traders are watching upcoming U.S. inflation data and FOMC commentary for clues on broader risk sentiment
Despite the pullback, DOGE appears to be finding traction near critical support, though broader market conditions remain fragile. Institutional caution and macro-driven volatility will likely dictate the next major move.
