Dogecoin Price News: Slides 5.5% as $0.19 Support Cracks on Volume Spike

Dogecoin experienced a significant decline, sliding 5.5% to $0.1843 after breaking below the critical $0.1940 support level, prompted by institutional selling. This decline was accompanied by a remarkable 180% surge in trading volume, highlighting intensified distribution pressure in the market. The price drop unfolded within a trading range of $0.0174, indicating notable intraday volatility. Following the sell-off, DOGE briefly stabilized around $0.1765, but subsequent dip-buying attempts failed to regain upward momentum. Triggers for this decline included the unwinding of leveraged positions and repeated rejections at overhead resistance. Analysts emphasize a need for DOGE to reclaim the $0.1950 threshold to neutralize bearish sentiment. Currently, holding above the $0.1840 base is crucial to avoid further declines. Traders are watching closely for signs of stabilization and new demand before potential market recovery can occur.

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