Dogecoin falls 7% as risk-off trade hits Ethereum tied tokens

coindesk.com 2 h

Analytics

$DOGE slid sharply as sellers pushed price through multiple support levels, with a spike in derivatives activity signaling speculation rather than conviction buying.

News Background

Dogecoin fell alongside broader crypto weakness, acting as a high-beta proxy as ether slid roughly 7% over the same period.
The move wasn’t driven by $DOGE-specific news, but by risk-off positioning that weighed on speculative assets.
Macro sentiment remained mixed even as U.S. lawmakers narrowly passed a funding bill to end the government’s partial shutdown, removing one near-term uncertainty but doing little to improve appetite for risk across crypto markets.

Price Action Summary

$DOGE fell about 6.9%, sliding from $0.1085 to $0.1030
Multiple support levels failed during the decline
A sharp volume spike near $0.110 marked a failed breakout and reversal
Price stabilized late in the session near $0.103–$0.104

Technical Analysis

$DOGE rejected sharply near $0.110, where a high-volume spike gave way to a fast reversal, flipping that zone into resistance. Selling accelerated once price broke below $0.106, confirming a distribution-led breakdown rather than a brief liquidity sweep.
The final hour saw capitulation-style selling into the $0.103 area, where bids finally emerged to slow the decline. While that suggests short-term stabilization, structure remains bearish unless $DOGE can reclaim lost support.
A notable feature of the session was the disconnect between futures and spot: derivatives volume surged while spot trading declined, pointing to speculative positioning rather than fresh demand.

What traders say is next?

Traders see $0.10 as the immediate line in the sand.
If $0.10 holds, $DOGE may consolidate as liquidation pressure fades — but bulls would need a reclaim of $0.106, and eventually $0.110, to argue the selloff has run its course.
If $0.10 breaks, downside risk opens toward $0.08, with momentum likely to accelerate given the recent failure of multiple support levels.
For now, $DOGE remains a high-beta trade, with futures activity amplifying moves but spot demand needed to confirm any meaningful recovery.