Dogecoin News Today: DOGE ETFs Spark Rally, But Price Retrenches Below Critical Support

Dogecoin (DOGE) faces mounting bearish pressure as its price continues to erode key technical levels, raising questions about the resilience of its most critical support zone. The memecoin has collapsed below $0.15, establishing new support near $0.138 after a sharp sell-off driven by algorithmic and institutional selling, according to technical analysts. Total trading volume surged 263% above the 24-hour simple moving average, confirming large-scale distribution rather than retail panic. The breakdown, which saw prices gap from $0.144 to $0.138 in minutes, underscores deteriorating liquidity in the meme coin sector and deepens the bearish narrative.

The sell-off coincides with broader crypto market weakness, as Bitcoin (BTC) and Ethereum (ETH) have declined over 9% and 10% respectively in the past week, with the total market cap shedding $120 billion in 24 hours. Dogecoin's technical indicators show it trading below both its 50-day and 200-day moving averages, signaling sustained trend weakness. Momentum oscillators are deeply oversold, but without divergences to suggest a reversal, leaving the asset vulnerable to further declines.

Despite the bearish backdrop, Dogecoin has outperformed major cryptocurrencies in recent sessions, rallying over 3% to $0.145 on the back of Grayscale's newly launched spot DOGE ETF (GDOG) and Bitwise's competing product. The ETF debut, however, failed to counteract immediate selling pressure, with the price retreating from a brief rebound above $0.1495 resistance. Analysts note that institutional demand from these products will be pivotal in determining whether DOGE can stabilize or face renewed distribution.

A critical test looms at the $0.143 support level, a historically significant trendline that has triggered sharp reversals in past cycles, including in 2017, 2019, and 2020. Current price action shows DOGE trading marginally above this threshold, but without a decisive recovery above $0.1489 resistance, bulls risk losing control to bears. Traders are closely monitoring whether stabilization near $0.140 can convert into sustained demand or if further capitulation will push the asset toward $0.135 and beyond according to recent analysis.

Technical analysts caution that DOGE's path forward hinges on broader macro conditions. A breakdown below $0.143 would shift focus to lower structural levels, while a recovery above $0.1489 could rekindle bullish sentiment. However, with crypto markets in extreme fear mode and forced liquidations accelerating, the road to stability remains fraught with volatility.