Dogecoin (DOGE) Price News: Slides 7.5% to $0.18, Triggering Technical Breakdown

Dogecoin (DOGE) experienced a sharp decline, sliding 7.5% to $0.18 following heavy whale outflows and increased trading activity. The price broke below the key support level of $0.18 after falling from $0.1934, driven by large transactions totaling over $29 million, including a significant transfer to Binance. This indicates a shift towards a distribution phase in DOGE's market structure, with institutional participants selling off amid an overall bearish sentiment. The trading volume surged, marking a 44% increase compared to the previous week. Analysts observed that price momentum has turned bearish, with resistance now at $0.1950–$0.1970 and immediate support around $0.1780–$0.1800. Traders are closely monitoring if DOGE can reclaim the $0.18 level after recent selloffs, indicating a fragile market structure despite initial expectations for a Q4 rally. Overall, Dogecoin's downward trajectory raises concerns, with potential further decline towards the $0.166 zone if current support fails to hold.

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