Dogecoin Slides Alongside Bitcoin, Memecoins as Traders Pare Risk Bets

• Dogecoin fell sharply below key support levels following the Federal Reserve's rate cut announcement.

• The critical support level of $0.1407 failed, leading to a significant increase in selling volume and a session low of $0.1372.

• Dogecoin's immediate downside momentum appears exhausted, with $0.1372 acting as a crucial short-term support.

Dogecoin suffered a sharp breakdown below key technical support as macro-driven risk aversion swept through crypto markets following the Federal Reserve’s rate decision.

News Background

Crypto markets turned defensive after the Federal Reserve announced a 25-basis-point rate cut, lowering its target range to 3.5%–3.75%. While the cut itself was expected, internal division among policymakers and renewed inflation concerns rattled risk assets, triggering broad selloffs across digital assets.

Meme coins, which tend to carry higher beta during macro shocks, underperformed as bitcoin dropped under $90,000 over the weekend. Dogecoin saw accelerated downside pressure as traders reduced exposure amid heightened volatility, despite no DOGE-specific negative developments.

Technical Analysis

From a technical standpoint, DOGE experienced a textbook capitulation event.

The critical $0.1407 support level failed decisively at 15:00 UTC on December 12. Selling intensified immediately, accompanied by a 348% surge in volume, confirming forced liquidation rather than routine profit-taking. This type of volume expansion at support failure typically marks short-term exhaustion.

Following the breakdown, DOGE printed a session low at $0.1372, where selling pressure began to fade. Subsequent candles showed progressively lower volume, signaling that sellers were losing control. The structure that followed — a sharp rebound with higher lows — completed a V-shaped reversal, often seen when large participants step in during panic conditions.

While broader trend damage remains, the immediate downside momentum appears exhausted unless $0.1372 fails.

Price Action Summary

DOGE declined 2.6% over the session, falling from $0.1413 to $0.1376 and trading through a $0.0064 range, representing 4.6% intraday volatility.

The steepest selling occurred during the breakdown window, when volume spiked to 1.11 billion tokens, overwhelming bids and pushing price swiftly lower. After establishing the $0.1372 low, DOGE stabilized and recovered modestly into the close, finishing near $0.1376.

Late-session volatility briefly drove price back to $0.1372 during the 01:37–01:53 window, but buyers defended the level again, reinforcing it as near-term support.

What Traders Should Know

Dogecoin is now at a technical crossroads.

• The $0.1372 low is the most important short-term support
• A sustained hold above this level favors consolidation rather than continuation
• Reclaiming $0.1407 would signal short-term trend repair toward $0.1425–$0.1440
• Failure below $0.1372 opens downside toward $0.1354 liquidity support
• The volume profile suggests capitulation selling may already be complete

In short, DOGE has shifted from active selloff to stabilization mode. The next move will depend on whether buyers can defend the $0.137 area and reclaim former support, or whether broader macro pressure forces another leg lower.

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