DOGE Rejection at $0.15 Sparks Selling Pressure — What Next for Dogecoin?
- Dogecoin’s rally failed at $0.151, triggering a nearly 4% sell-off.
- Traders sold into strength, showing profit-taking over accumulation.
- Price action now tests support near $0.1420 for direction.
Dogecoin — DOGE, bulls hit a familiar wall recently. A swift charge toward $0.1511 crumbled under heavy selling. That failure triggered a nearly 4% drop in a single session. Dogecoin landed near $0.1426 while the wider crypto market stood still. This specific rejection tells a clear story. Traders opted to take profits rather than push higher. That decision shifted market dynamics. Now, the community questions the path forward.
A Failed Rally Reveals Trader Sentiment
Monday’s trading painted a vivid picture. Dogecoin attempted another breakout above $0.15. Sellers swarmed almost immediately. A volume spike over 1.1 billion tokens marked the rejection. This surge confirmed active distribution at higher prices. Traders sold into strength instead of accumulating. The subsequent price action formed a sequence of lower highs.
Downside momentum then accelerated throughout U.S. trading hours. Trading volume jumped 48% above the weekly average. Elevated volume alongside declining price often signals distribution. Dogecoin underperformed the broader crypto market significantly. Major assets like Bitcoin traded within narrow ranges. DOGE, however, broke below a key support zone at $0.1457. This level had held during recent consolidation.
The break confirmed genuine selling pressure. Analysts pointed to profit-taking after recent gains. Speculative appetite for meme coins also shows early fatigue. Capital rotates unevenly, and these tokens act as high-beta risk plays. Without fresh catalysts, momentum proved difficult to sustain.
Key Levels to Watch for Dogecoin’s Next Move
Attention now turns to critical support and resistance zones. Late selling stabilized between $0.1424 and $0.1426. Buying interest there slowed the decline but sparked no major rebound. Choppy price action into the close suggested exhaustion. Bulls remain active near the $0.1420 level. A bullish trend line on hourly charts offers support there.
Dogecoin also maintains a position above the 100-hour simple moving average. Holding this $0.1420-$0.1430 area could lead to sideways grinding. Failure at current support opens the door to further declines. The next targets sit near $0.1400 and potentially $0.1350. Any recovery attempt will face immediate supply. Initial upside resistance awaits near $0.1450.
A more substantial barrier sits at the previous support zone of $0.1457. Overcoming that level requires significant buying pressure. The major hurdle for bulls remains the $0.1510 ceiling. A daily close above that point could reignite bullish momentum. That scenario might then send Dogecoin toward the $0.1550 region. The coming sessions will test whether support holds or sellers regain control.
