Dogecoin Plunges 8% to $0.151 then V-Shaped Rebounds to $0.157
Dogecoin (DOGE) experienced an 8% intraday decline from $0.164 to a low of $0.151 amid macroeconomic uncertainty and geopolitical tensions. A surge in trading volume to 828 million DOGE at the low marked a capitulation point, establishing strong support at $0.151. Buyers stepped in immediately, driving a recovery to $0.157 and forming higher lows. Technical indicators show a positive MACD crossover and neutral RSI around 48, suggesting room for further upside. Immediate resistance lies at $0.157–$0.160, while a close above $0.160 could confirm a bullish breakout. This V-shaped recovery signals renewed retail interest in DOGE and may attract short-term traders seeking quick reversals.
Bullish
The sharp capitulation at $0.151 and immediate buying interest indicate a strong support base for DOGE, triggering a classic V-shaped rebound. Historical patterns in memecoins show that high-volume bottoms often precede significant rallies, especially when technicals like MACD turn positive and RSI remains neutral. If DOGE clears the $0.160 resistance, short-term momentum could accelerate, drawing more buyers. In the long term, sustained trading above the $0.157–$0.160 zone would reinforce bullish sentiment and set the stage for further gains.