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