Dogecoin Price Dips Below Key Support as Selling Pressure Builds

Dogecoin (DOGE) edged slightly lower over the past 24 hours, slipping below an important technical support level as increased selling pressure weighed on price action. The meme-based cryptocurrency declined around 0.3% during the period ending December 22, falling from approximately $0.1309 to near $0.1305. While the percentage move was relatively small, the broader market behavior suggested growing caution among traders.

DOGE price volatility expanded during the session, with intraday swings reaching close to 4%. This heightened volatility reflected rising sensitivity around key technical levels as the token tested the boundaries of its recent consolidation range. Trading volume increased significantly, confirming that the move lower was driven by active market participation rather than thin liquidity.

Early in the session, Dogecoin showed brief upside momentum, pushing toward the $0.134 area. However, sellers quickly stepped in, reinforcing that zone as near-term resistance. As the session progressed through U.S. and early Asian trading hours, DOGE struggled to maintain footing above $0.129, a level that had previously attracted consistent buying interest.

The most notable move occurred shortly after 02:00 UTC, when Dogecoin slid from the $0.132 region toward $0.130 on a sharp burst of selling volume. This move marked a clear breakdown from its prior consolidation pattern and effectively turned former support into overhead resistance. On shorter timeframes, DOGE now trades below key moving averages, with momentum indicators pointing lower rather than signaling a bullish divergence.

By the end of the session, Dogecoin stabilized near $0.130 but failed to reclaim the former range floor. The token traded between roughly $0.134 and $0.130 throughout the day, with elevated volume persisting during the breakdown phase. Continued attempts to rebound toward $0.132 have met selling pressure, keeping downside risks in focus.

Looking ahead, traders are watching the $0.132–$0.134 zone as immediate resistance, while $0.129 remains a critical support level. A decisive reclaim of the $0.129–$0.130 area on strong volume would be required to ease the current bearish setup. Until then, Dogecoin remains technically vulnerable, with sellers maintaining control and buyers showing limited conviction.