The latest Dogecoin (DOGE) selloff forced traders to confront a question that has dogged the meme coin since its prime. Is this another temporary flush or a deeper reset of the way the market values DOGE?
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Over the past 24 hours, Dogecoin has fallen sharply below the levels that have been held during weeks of consolidation, erasing the sense of stability that many participants have become accustomed to. The move came without any defining catalyst, instead reflecting broader weakness among higher-beta crypto assets.
At the same time, DOGE’s highly visible online presence remained active, creating a contrast between weakening price movements and continued cultural relevance.
DOGE's price trends to the downside on the daily chart. Source: DOGEUSD on Tradingview
A break below key support changes the short-term structure
In the past 24 hours, Dogecoin (DOGE) it fell about 5.5%, slipping from about $0.1367 to nearly $0.129, and briefly traded as low as $0.1266.
The decline pushed the price below the $0.1370 and $0.1300 support zones, the levels that defined the lower end of its recent range. Trading volume rose to around 1.36 billion tokens, more than 180% above average, suggesting that the move was driven by active selling rather than a gradual movement.
Technically, DOGE is now trading below its 100-hour simple moving average, with a downtrend line forming near $0.1340. Attempts to retake $0.1300 have so far failed, reinforcing that level as immediate resistance.
Market participants note that after the intermediate supports gave way, the bidding depth looked weak, allowing the price of DOGA to move lower with limited pauses.
Sentiment signals are conflicting with the weak Dogecoin price
Despite the selloff, Dogecoin is still popular online. The official account of the Dogecoin ecosystem recently confirmed renewed public approvals, including comments from high-profile entrepreneurs, and resurfaced feedback related to DOGE race 2021.
From a positioning standpoint, Dogecoin remains well below its all-time high and has fallen sharply year-to-date. Open interest has also declined significantly from earlier highs in 2025, indicating reduced speculative participation.
For some traders it is proof of capitulation; for others, it signals a quieter phase in which excess leverage and hype is washed away.
Levels that matter to traders now
In the short term, the market’s focus is centered on the $0.1290 to $0.1280 zone. A hold above this area could allow DOGE to consolidate, while a sustained move lower could reveal support near $0.1250 and a potential $0.1200 area.
On the upside, a retracement of $0.1300 would be the first indication that momentum is falling, although previous supports above $0.1340 remain key barriers.
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Whether this move marks the end of an era or a broader reset remains to be seen. For now, Dogecoin remains in a fragile stabilization phase, where confirmation, not belief, drives trading decisions.
Cover image from ChatGPT, DOGEUSD chart from Tradingview
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