Dogecoin (DOGE) led losses among major cryptocurrencies over the past 24 hours, tumbling 9.24% from $0.248 to $0.226 amid sharp institutional sell pressure and broader market risk-off sentiment.
Heavy Selling Hits DOGE During U.S. Trading Hours
The most intense sell-off occurred between 13:00–14:00 UTC, where trading volume spiked to 918 million DOGE—more than twice the 24-hour average of 410 million. This surge in volume signals institutional exit activity as investors recalibrate expectations amid central bank uncertainty and rising geopolitical risks.
DOGE fell to an intraday low of $0.223, marking a 10.39% range from the day’s high of $0.248, reached during early Asian hours. Despite the magnitude of the decline, the asset managed to rebound modestly in the final session hour, climbing from $0.223 to $0.226.
Support Holds, But Resistance Stiffens
Key support at $0.223 was tested twice, including a high-volume hold at 553 million DOGE near session close—suggesting some level of buy-side defense. Still, multiple rejections at the $0.240–$0.241 zone capped any recovery attempts, reinforcing bearish market momentum.
A 60-minute rebound pattern was observed after the sharp drop, possibly pointing to a short-term bottom, though bulls must overcome heavy resistance to shift sentiment.
“The failed retest of $0.24 confirms DOGE remains under downward pressure unless broader market liquidity returns,” analysts noted.
DOGE’s price action reflects a wider slowdown in speculative demand across crypto markets, driven by shifting rate cut expectations and heightened global trade tensions. Institutional traders are reportedly reducing exposure to high-volatility assets, favoring stable returns amid macroeconomic headwinds.
While short-term support is visible, momentum remains bearish, and DOGE will need to consolidate above $0.230 before regaining investor confidence.
Technical Summary
24h Price Drop: 9.24% from $0.248 to $0.226
Range: $0.025 between $0.248 high and $0.223 low
Resistance: $0.240–$0.241 (multiple rejections)
Support: $0.223 (held on 553M volume)
Volume Surge: 918M DOGE from 13:00–14:00 UTC
Trend: Bearish with early signs of short-term stabilization
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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