The market’s largest meme cryptocurrency, Dogecoin, faces a challenging technical scenario following a highly volatile trading session. According to analyst Shaurya Malwa, Dogecoin falls below the $0.129 support level after selling pressure successfully broke through the previous consolidation range. This downward movement weakens the bullish structure that the asset had been attempting to maintain during recent active trading sessions. Investors are cautiously observing this technical breakdown which could foreshadow further corrections in the near-term financial horizon.
Over the past 24 hours, the asset recorded a 0.3% decline, trading within a narrow range between $0.1309 and $0.1305. Nevertheless, intraday volatility hit a notable 4%, reflecting the extreme sensitivity of traders toward these critical technical levels.
Trading volume rose sharply during the breakdown phase, confirming the validity of the previously mentioned support breach today. Likewise, early attempts to rebound toward $0.134 failed quickly as heavy sell orders emerged to block any upward momentum. DOGE now finds itself in a vulnerable position after failing to sustain its most recent market lows.
The most evident technical deterioration occurred during simultaneous trading hours across the United States and Asian markets. Around 02:00 UTC, the price slid from the $0.132 area toward lower levels on an accelerated bearish impulse.
This change in trend flips the former support into a psychological resistance level that is difficult for current retail buyers to overcome. Therefore, the prior consolidation structure has been invalidated by the consistent flow of institutional sell orders entering the market. Losing the $0.129 level represents a negative milestone for the long-term confidence of dedicated token holders.
Rising trading volume confirms the breakdown of the recent consolidation range
On the other hand, momentum indicators suggest that the cryptocurrency market continues to punish assets with higher speculative exposure during this period. The spike in transaction volume during the slump indicates active participation from sellers rather than a simple momentary lack of liquidity.
The current price remains below the immediate moving averages, making any serious attempt at a sustained recovery difficult to achieve right now. In this way, bearish sentiment seems to dominate the price action despite efforts to stabilize the asset’s nominal value. Technical analysts expect further downward pressure if the recovered support levels do not hold firm very soon.
Likewise, the resistance located at $0.134 has strengthened as an impassable ceiling for Dogecoin’s bullish movements lately. Every attempt to bounce toward the $0.132 zone has encountered persistent supply pushing the price back down.
The inability to reclaim the previous range floor serves as a clear warning sign for active derivatives traders. Therefore, liquidity at lower levels is being constantly tested by high-frequency trading algorithms across multiple global platforms. The current scenario requires extreme vigilance of daily closing levels to determine the asset’s future price direction.
Will Dogecoin be able to reclaim the lost support level before the weekly close?
However, the asset has managed some stabilization near $0.130 following the initial burst of concentrated sell orders. This pause in the decline offers a momentary respite to investors looking for buying opportunities in discount zones.
Restoring market confidence will depend entirely on DOGE’s ability to close above its immediate resistance levels in the coming sessions. Nevertheless, the overall outlook remains conditioned by the behavior of major coins and global risk appetite. Traders must be prepared for high volatility scenarios during the next hours of international trading and market activity.
To conclude, Dogecoin faces a trial by fire to validate its relevance within the current decentralized market cycle. The evolution of price action will dictate whether we are seeing a healthy correction or the start of a prolonged downtrend. Trading volume is expected to remain high while the new boundaries of the operating channel are being defined. Detailed monitoring of the lower support levels will be crucial to minimize potential losses in diversified digital asset portfolios. The end of 2025 will define the technical fate of this iconic meme coin.
