DOGE slumps 7% as bitcoin loses ground in risk-off trade

Dogecoin slid sharply as bitcoin pulled back, breaking a key support level and forcing traders to reassess whether the memecoin is stabilizing — or rolling into a deeper corrective phase.

News Background

Dogecoin fell alongside broader crypto weakness as bitcoin retreated, dragging high-beta tokens lower.

The move wasn’t driven by a DOGE-specific headline, but by risk-off positioning, with memecoins once again underperforming majors during the pullback.

At the same time, on-chain data showed a sharp drop in large DOGE transactions, highlighting reduced participation from bigger players as price approached critical support levels.

Technical Analysis

DOGE broke decisively below $0.1218, a level that had acted as short-term support, triggering accelerated selling into the session close. The breakdown occurred on heavy volume, confirming the move as active distribution rather than low-liquidity drift.

Price briefly flushed toward $0.115, where buyers stepped in to defend the level, producing a short-term bounce back toward $0.116. That reaction suggests demand still exists near the lower end of the range — but structure remains fragile unless DOGE can reclaim former support.

The loss of $0.1218 flips that zone into near-term resistance, with rallies now likely to face selling pressure.

Price Action Summary

• DOGE fell about 7%, sliding from $0.1245 to $0.1162
• Selling accelerated after price broke below $0.1218
• A sharp flush found support near $0.115
• Price rebounded modestly but remains below key resistance

What traders say is next?

Traders are focused on the $0.115–$0.12 zone as the next decision point.

If $0.115 holds, DOGE could stabilize and attempt a range rebuild — but bulls would need a reclaim of $0.1218, followed by $0.125, to signal the breakdown was corrective rather than structural.

If $0.115 fails, downside risk opens toward $0.108–$0.10, with momentum likely to accelerate as remaining support gives way.

For now, DOGE remains a high-beta trade tied closely to bitcoin, with technical levels — not narratives — dictating direction.