Dogecoin Price Slides as Memecoins Lag Broader Crypto Market

Dogecoin (DOGE) declined sharply as traders continued rotating out of higher-beta assets, leaving memecoins under pressure and underperforming the broader cryptocurrency market. The move did not stem from a single breaking headline but rather from shifting market positioning and lingering concerns around a large DOGE transfer linked to an exchange wallet, which resurfaced as price action weakened.

Earlier this month, Dogecoin attempted to reclaim the $0.15 level but was firmly rejected, a move that quickly eroded bullish confidence. As DOGE slipped back toward the $0.13 region, selling pressure intensified. Once that area failed to hold, the market experienced a rapid, liquidation-driven drop that forced weak long positions out of the trade before price began to stabilize. This sequence — rejection at resistance followed by a sharp downside flush — has become a familiar pattern across memecoins during periods of declining risk appetite.

Technically, Dogecoin struggled after multiple failed attempts near the $0.137–$0.138 zone. Those repeated rejections set the stage for an accelerated breakdown, pushing price down to a session low near $0.125. Buyers eventually stepped in around $0.127, where DOGE has since found temporary stability. Trading volume spiked during the breakdown, signaling forced selling rather than gradual distribution, and activity has since compressed into a tight range near support. While this suggests liquidation pressure has eased, it does not yet confirm a durable bottom.

Over the session, DOGE fell roughly 7.35%, sliding from $0.137 to $0.127 and underperforming the broader crypto market. From a structural perspective, the token remains below former support, which has now turned into overhead resistance.

For traders, the current setup points to post-flush consolidation rather than a confirmed trend reversal. Holding above $0.127 and reclaiming $0.13 could open the door to a gradual recovery, but the critical level remains near $0.137. A decisive move above that zone would indicate the selloff was largely driven by positioning. Conversely, a breakdown below $0.127 increases the risk of a retest of $0.125 and potentially deeper downside if the liquidation floor gives way.