Dogecoin Holds Key Support as Fed Rate Cut Fails to Spark Breakout

Dogecoin traded in a narrow range after the US Federal Reserve delivered a widely anticipated interest rate cut, as crypto markets digested mixed policy signals and muted risk appetite. The meme coin remained steady, reflecting a broader wait-and-see mood across digital assets rather than a decisive bullish reaction.

On Wednesday, the Federal Reserve announced a 25-basis-point cut to its benchmark rate, lowering the target range to 3.5%–3.75%. While this marked the third rate cut of the year, policymakers struck a cautious tone. Some officials argued for further easing to support a softening labor market, while others warned that aggressive cuts could revive inflation. This internal divide limited follow-through in risk assets, including cryptocurrencies, keeping prices largely stable instead of fueling a sustained rally.

Within this environment, Dogecoin showed resilience. DOGE rose about 0.69% over the past 24 hours to trade near $0.1405, remaining firmly inside its established $0.13–$0.15 consolidation range. Intraday price action stayed tight, fluctuating between roughly $0.1382 and $0.1408, highlighting restrained trader participation despite the macroeconomic catalyst. Trading volume reached around 651.7 million DOGE, modestly above the weekly average, suggesting tactical positioning rather than aggressive accumulation.

On-chain data continued to point to steady engagement. Large holders accumulated an estimated 480 million DOGE over recent sessions, while trading activity remained elevated following the launch of spot Dogecoin ETFs by Grayscale and Bitwise. However, ETF-related inflows have so far failed to generate sustained directional momentum.

From a technical perspective, Dogecoin remains compressed. Repeated defenses of the $0.1380 support level reinforce it as a critical near-term floor, while resistance near $0.1425–$0.1430 has capped multiple upside attempts. Momentum indicators remain neutral, consistent with a range-bound market. As long as DOGE holds above support, the structure stays intact, but a lack of acceptance above resistance keeps upside limited. A confirmed breakout could target $0.16–$0.18, while a breakdown below $0.1380 would shift focus back toward $0.13.