Dogecoin broke below key $0.1940 support during Tuesday’s session, sliding 5.5% to $0.1843 as institutional selling overwhelmed buyers. The collapse came on a sharp 180% volume surge that underscored renewed distribution pressure across the meme coin sector amid the risk-off vote in broader crypto markets.
News background
- DOGE fell from $0.1951 to $0.1843, marking one of its steepest one-day declines this month.
- The move unfolded within a trading range of $0.0174, equivalent to 9.4% intraday volatility, as market participants liquidated leveraged positions following repeated rejections at overhead resistance.
- Trading activity surged to 1.17 billion tokens, nearly 180% above the daily average, as sell-side flows accelerated through midday. Volume stayed above 995 million for several hours, confirming liquidation on an institutional scale.
- The price briefly stabilized near $0.1765 where attempts to buy a dip appeared but failed to reverse the momentum.
- The session’s weakness reflected broader softness across speculative digital assets, although Dogecoin’s 43% year-to-date gain still leaves it among 2025’s stronger major-cap performers.
- The immediate concern now centers on whether bulls can regain control after significant technical damage to near-term structure.
Summary of price action
- The break sequence began early Tuesday when the DOGE breached $0.1940, a key level that had repeatedly served as a short-term bottom in October sessions.
- Institutional orders hit the market in clusters, driving volume well above statistical norms and producing a cascade towards $0.1840 intraday.
- After a brief recovery attempt, the DOGE fell to a narrow $0.1850-$0.1860 range, suggesting stabilization but not confirmation of support.
- Momentum indicators showed pronounced bearish divergence, with the RSI falling towards oversold readings on both the hourly and four-hour charts. Meanwhile, open interest for futures fell marginally, indicating some deleveraging among speculative traders.
Technical Analysis
- DOGE’s technical profile remains fragile after the loss of $0.1940 support. The price pattern has now completed a fifth wave within a corrective sequence, suggesting that near-term exhaustion may precede an eventual base formation near $0.1840-$0.1765.
- Volume data reinforces that large participants drove the move: daily turnover eclipsed 1.17B tokens, confirming institutional distribution.
- The selloff has reduced DOGE’s liquidity footprint, with total daily flows falling from $20bn earlier in October to around $5bn, a dynamic that limits breakout potential until new demand enters the market.
- Resistance is now aligned around $0.1950, with a more significant supply cluster near $0.218, identified by analysts as the key battleground for bulls trying to regain higher trend structure.
What traders should see
- Traders are monitoring whether DOGE can hold above the $0.1840 base and avoid a retest of the $0.1765 level that defines near-term structural integrity.
- A sustained pullback above $0.1950 would neutralize immediate bearish bias, but continued weakness below this threshold keeps downside targets active.
- For now, the setup favors cautious positioning as traders await confirmation that selling pressure has exhausted near current support.
