Dogecoin (DOGE) has rebounded from a sharp 8% intraday drop, showing signs of a bullish recovery as buyers defend a critical support level. The memecoin’s ability to stabilize near $0.157 suggests potential for further upside if momentum holds.
Why Did Dogecoin Crash?
- Macroeconomic pressures, including hawkish central bank policies and geopolitical tensions, triggered a broader crypto sell-off.
- DOGE fell from $0.164 to $0.151 in a single hour, with 828M coins traded—the highest hourly volume in over a week.
- The drop reflected risk-off sentiment among retail traders, who often treat DOGE as a market sentiment indicator.
Key Support Holds, Bulls Step In
- $0.151 emerged as strong support, with a spike in buying volume preventing further declines.
- The V-shaped recovery suggests capitulation selling was absorbed, potentially forming a short-term bottom.
- If DOGE holds above $0.155, traders may target a retest of $0.164 (previous resistance).
On-Chain & Technical Signals
- Network activity remains stable, indicating no mass exodus of holders.
- Higher lows forming on shorter timeframes hint at accumulation.
- A break above $0.160 could confirm bullish momentum.
What’s Next for DOGE?
Bullish Case
- Sustained holding above $0.151 could attract more buyers.
- A move past $0.164 may signal a broader recovery.
Bearish Risks
- Failure to hold $0.151 could lead to a retest of $0.145 (next major support).
- Further macroeconomic shocks may pressure crypto markets.
Key Takeaways
DOGE rebounds after an 8% drop, showing resilience at $0.151.
High-volume recovery suggests strong buyer interest.
Next resistance at $0.164—breakout could signal further upside.
Macro risks remain, requiring caution for short-term traders.
*Will DOGE’s recovery hold? Traders are watching the $0.151-$0.164 range closely.*
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.