Dogecoin News Update: DOGE ETFs Ignite Surge, Yet Price Falls Back Under Key Support Level

Dogecoin Faces Intensifying Downward Pressure

Dogecoin (DOGE) is under significant selling pressure, with its price slipping beneath important technical thresholds. This decline has sparked concerns about the strength of its primary support area.

The popular meme-based cryptocurrency recently dropped below $0.15, finding tentative support around $0.138 following a rapid sell-off attributed to both algorithm-driven and institutional trading. Technical experts report that trading volume soared to more than double the 24-hour average, indicating widespread distribution by larger players rather than panic among individual investors. The swift price drop from $0.144 to $0.138 in just minutes highlights worsening liquidity conditions within the meme coin sector and adds to the prevailing negative outlook.

This downturn comes amid a broader slump in the cryptocurrency market. Over the past week, Bitcoin (BTC) and Ethereum (ETH) have each fallen by more than 9% and 10%, respectively, with the overall crypto market losing $120 billion in value within a single day. Dogecoin is now trading below both its 50-day and 200-day moving averages, a sign of ongoing weakness. While momentum indicators show the asset is deeply oversold, there are no clear signals of an imminent reversal, leaving DOGE exposed to further declines.

Short-Term Outperformance and ETF Launches

Despite the overall bearish environment, Dogecoin has managed to outperform some major cryptocurrencies in recent trading sessions, climbing over 3% to reach $0.145. This uptick followed the introduction of Grayscale’s new spot DOGE ETF (GDOG) and a similar product from Bitwise. However, the launch of these ETFs was not enough to offset immediate selling, and DOGE quickly retreated after briefly surpassing the $0.1495 resistance level. Market observers emphasize that ongoing institutional interest in these products will be crucial in determining whether Dogecoin can stabilize or if further selling will occur.

Key Support Levels and Market Outlook

A pivotal moment is approaching at the $0.143 support level, a historically important trendline that has previously sparked strong reversals in 2017, 2019, and 2020. Currently, DOGE is trading just above this critical point, but unless it can reclaim the $0.1489 resistance, bearish sentiment may continue to dominate. Traders are watching closely to see if the price can hold near $0.140 and attract renewed buying interest, or if continued weakness will drive it down toward $0.135 and lower, as recent analyses suggest.

Experts warn that Dogecoin’s future direction will largely depend on broader market conditions. A drop below $0.143 could shift attention to even lower support zones, while a move above $0.1489 might revive optimism among bulls. Nevertheless, with the crypto market gripped by extreme fear and forced liquidations on the rise, the path to stability is likely to remain turbulent.