Dogecoin broke below key technical support level as cryptocurrency markets faced widespread selling pressure following the Federal Reserve's latest monetary policy announcement. The meme coin dropped to $0.1372 after failing to hold the $0.1407 support threshold, marking a sharp reversal in recent trading momentum.
The breakdown triggered immediate selling activity. Trading volume surged by 348% during the decline, reaching 1.11 billion tokens as the price dropped to session lows from $0.1413. At the time of writing, DOGE is trading at $0.1362, suggesting a 1.45% decline in the last 24 hours.
DOGE price chart, Source: CoinMarketCap
Market participants reduced exposure to higher-risk digital assets after the Fed announced a 25-basis-point interest rate cut. The central bank lowered its target range to 3.5%–3.75%, but internal disagreements among policymakers and persistent inflation concerns dampened investor sentiment across crypto markets.
Bitcoin fell below $90,000 over the weekend, adding pressure to alternative cryptocurrencies. Bitcoin is currently trading at around $89,800, suggesting a 0.51% decline in the last 24 hours.
BTC price chart, Source: CoinMarketCap
Meme coins experienced amplified downside moves due to their higher sensitivity to macro-driven volatility. Dogecoin declined 2.6% during the session, trading through a $0.0064 range that represented 4.6% intraday volatility.
Technical Structure Shows Reversal Pattern
Following the initial breakdown, selling pressure began to diminish near the $0.1372 level. Subsequent price candles displayed progressively lower volume, suggesting exhaustion among sellers. The asset then formed a V-shaped recovery pattern, characterized by higher lows and stabilization near prior lows.
This type of price action typically emerges when institutional participants enter during panic-selling conditions. The sharp rebound from session lows indicated demand absorption at lower price levels, though broader trend damage remains intact.
