Dogecoin News Today: Dogecoin Drops 4% Amid Fed Rate Hold and Surging Outflows

Dogecoin (DOGE) fell nearly 4% over the 24-hour period ending August 3 at 04:00 (UTC+7), declining from $0.20 to as low as $0.19 amid heightened macroeconomic concerns and surging trading volumes. The price swing reflected a volatile session, with the coin trading within a $0.01 range (7.14%), as bearish pressure intensified following global trade developments and the Federal Reserve’s decision to maintain interest rates [1].

Trading activity spiked significantly, with volume reaching 918.53M at 06:00 and 502.81M at 14:00—well above the 24-hour average of 385.67M—indicating strong selling conviction and outflows from the asset. The price faced resistance in the $0.202–$0.203 range, while support was observed around $0.188–$0.190, where volume surged to 667.44M, briefly enabling a recovery to $0.194 [1].

The broader context of DOGE’s decline was linked to global economic uncertainty, including the expiration of a reciprocal tariff framework, which has left 92 countries with elevated trade barriers. Meanwhile, the Federal Reserve's decision to hold interest rates unchanged reduced market expectations of a September rate cut, further weighing on high-beta assets like meme coins [1].

In the final 60-minute session, DOGE dropped 0.53% from $0.196 to $0.195, with intra-candle resistance at $0.1963 and support near $0.1952. While volumes normalized slightly, they remained above baseline levels, suggesting continued potential for volatility. The price closed at $0.195, with a 24-hour range of $0.015 (7.14%) [1].

Traders are closely monitoring whether DOGE can hold the $0.19 support level amid broader weakness in altcoins. Key macroeconomic factors, including the U.S. interest rate path and global trade policy shifts, are likely to influence future price action. Liquidity rotations away from meme assets further complicate the outlook for DOGE and similar tokens [1].

Source: [1] Dogecoin Dragged Lower by Outflows With Technicals Flagging Bearish Continuation (https://www.coindesk.com/markets/2025/08/03/dogecoin-dragged-lower-by-outflows-with-technicals-flagging-bearish-continuation)