Dogecoin News Today: Dogecoin Dips 9% as U.S. Trading Volatility Spikes, Bounces Near Key Support

Dogecoin (DOGE) experienced a sharp decline of nearly 9% during heavy U.S. trading hours, dropping from $0.248 to $0.223, before stabilizing at $0.226 as buyers accumulated near key support levels. The sell-off saw trading volume spike to 918 million, over double the 24-hour average, suggesting large players may have triggered stop-loss orders. While the 7-day price trajectory remains negative with over 18% losses, the recent rebound has raised cautious optimism among traders and analysts.

The price action highlights critical technical levels shaping the near-term outlook. The $0.248 short-term resistance level was breached during the rally but failed to sustain momentum, triggering the selloff. A sustained recovery above $0.240–$0.241 is seen as pivotal for a bullish reversal, while the $0.223–$0.225 range has shown resilience as a strong support zone. If this level holds, the price could retest $0.260 within days. However, a breakdown below $0.223 may push DOGE toward the next support at $0.215–$0.218.

Analysts note that the current volatility underscores the influence of macroeconomic factors, particularly U.S. inflation data and Federal Reserve policy signals. These elements remain critical for sustaining buyer demand or prolonging sell-off pressures. Traders are advised to monitor these indicators alongside key price levels to gauge short-term momentum.

For traders navigating the DOGE market, the article emphasizes the importance of liquidity and fee structures when selecting exchanges. Closely tracking the $0.223 support and $0.241 resistance zones is recommended, along with understanding the underlying blockchain technology to contextualize price movements.

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Source: [1] DOGE Price Prediction: Support Holds After 9 % Plunge, BUT a Rebound Might Come... (https://coinmarketcap.com/community/articles/6888f4a631246d0e3959fc2a/)