Dogecoin plunged nearly 8% after its key support level collapsed, triggering a high-volume liquidation wave that overshadowed muted ETF inflows and sent the memecoin towards new monthly lows.
• DOGE ETFs from Grayscale and Bitwise generated only 2.16 million. USD in first week inflows
• The ETF launch was expected to attract institutional attention, but demand fell far short
• Market-wide risk aversion continues as Bitcoin moves near multi-month lows
• Meme tokens face high volatility as liquidity conditions deteriorate
• Large holders remain net sellers despite ETF debuts
DOGE’s collapse below the well-established support level of $0.1495 marks a significant breakdown in the structure. This zone served as the base for every major rally since late October, making its break a structural shift from consolidation to active downtrend.
The volume profile confirms the legitimacy of the collapse. DOGE saw 1.56B tokens traded during the crucial sales window – about 6.5x the daily average. This level of participation is typical of liquidation events or algorithmic selling rather than retail-driven volatility. The decline unfolded through a sequence of lower highs and lower lows, culminating in a steep vertical decline towards the $0.1370 range.
Momentum indicators are deeply oversold, but no divergence signal has formed. DOGE’s price remains pinned below broken support at $0.1495, while immediate resistance at $0.1383 continues to reject recovery attempts. Until DOGE regains lost levels with conviction and volume, the structure favors continuation over reversal.
DOGE fell from $0.1495 to $0.1377 during a violent 24-hour selloff. The collapse began at 23:00 UTC and accelerated over three consecutive high volume candles. The 1.56B volume increase – 650% above average – confirmed that buyers were completely overwhelmed. DOGE attempted shallow rebounds near $0.1383 but repeatedly failed at intraday resistance. The token is now consolidating between $0.1372 and $0.1383 in a narrow range, indicating temporary stabilization after the capitulation drop.
• Losing $0.1495 turns the level into major overhead resistance — regaining it is important
• Immediate support is at $0.1370; failure here reveals $0.1350–$0.1320
• Oversold readings suggest a rejection is possible but not yet confirmed
• ETF disappointment removes an important bullish narrative for near-term recovery
• Watch for a large amount at $0.1420-$0.1450 as the first sign of bulls returning
