Dogecoin Slides to $0.1226 as Key Support Gives Way
Dogecoin (DOGE) fell 3% to $0.1226, breaking the $0.1248 support level amid year-end selling pressure. Trading volume surged 157% above average, signaling that the decline was driven by active selling rather than thin liquidity. The token remains near the lower end of its December downtrend.
Technical Overview
The drop pushed DOGE into the $0.122–$0.123 demand zone. Around 857 million DOGE traded during the move, while rebounds toward $0.1270 were capped by persistent selling. DOGE continues to trade within a descending channel, with RSI near 37 pointing to oversold conditions, though oversold levels alone haven’t reversed the trend.
Market Context
Whale activity has distributed roughly 150 million DOGE over the past five days, limiting rallies. Meanwhile, futures open interest climbed above $1.5 billion, indicating traders are maintaining exposure even as the spot market weakens, keeping volatility elevated.
