Dogecoin Just Lost Its Most Important Support Level

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.