Dogecoin Slides 5.5% as $0.1940 Support Cracks on Volume Spike

Dogecoin has fallen by 5.5% to $0.1843 after breaking below the critical $0.1940 support level, driven by significant institutional selling. Trading volume surged by 180%, indicating high distribution pressure in the market. The coin briefly stabilized around $0.1765, but attempts to buy the dip failed to reverse the downward momentum. This downturn reflects a broader weakness in the crypto market, although Dogecoin remains one of the stronger performers in 2025 with a 43% year-to-date gain. Traders are now focused on whether Dogecoin can maintain support above the $0.1840 level to avert a further drop towards $0.1765. Resistance is identified at $0.1950, while more significant selling pressure may emerge near $0.218 if bulls fail to regain momentum. The current market dynamics suggest cautious positioning as traders await to see if selling pressure has subsided near the existing support zones.

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