DOGE breaks $0.1310 support as selling volume spikes, risks reopening $0.1266
Dogecoin (DOGE) weakened after the Federal Reserve’s 25-basis-point rate cut and cautious guidance, first slipping below a short-term technical support around $0.1407 in earlier trade and later breaking the $0.1310 consolidation support on heavier-volume selling. The latest decline saw intraday lows near $0.1266 and a weak rebound to roughly $0.1291 as volume faded. Trading volume spikes — hundreds of millions to over a billion DOGE in different sessions — indicate active distribution rather than low-liquidity drift. The $0.1310–$0.1315 area has flipped to immediate resistance; $0.1290 is the next intraday support with a sustained break likely to reopen the $0.1266 level. For traders: monitor volume closely — continued high volume on downswings would validate further downside, while falling volume near support could signal selling exhaustion and a short-term relief bounce. Intraday structure has shifted to corrective/bearish; rallies below $0.1315 should be treated as corrective unless confirmed by rising volume and price strength. Bitcoin weakness (around $90k) amplified pressure on meme coins, increasing correlation risk for DOGE.
Bearish
The combined reports indicate a near-term bearish outlook for DOGE. Key evidence: the token broke successive short-term supports (initially near $0.1407, later at $0.1310), hit an intraday low around $0.1266, and saw materially higher trading volumes during declines — a hallmark of active distribution. The $0.1310–$0.1315 zone has turned into resistance, and the next supports ($0.1290 then $0.1266) are at risk if selling persists. Correlation with Bitcoin weakness amplifies downside risk for meme coins. Short-term: expect continued volatility and a bias to the downside until selling volume abates or price reclaims $0.1315 on rising volume. Long-term: this event alone is insufficient to change DOGE’s multi-month trajectory, but repeated high-volume breakdowns would erode market structure and investor confidence, making recovery harder and increasing the probability of further declines.