Dogecoin Zips Down 7% Amid Low Risk-On Sentiment

Dogecoin tumbled as much as 7.5% in 24 hours, sliding from $0.176 to $0.164 as markets continue to react to rising geopolitical conflict in the Middle East and hawkish central bank policy. News Background Tensions between Israel and Iran escalated over the weekend, prompting a swift risk-off reaction in global markets. Crypto was no exception, with DOGE shedding nearly 8% before stabilizing above a key technical floor. Meanwhile, the Federal Reserve is widely expected to keep interest rates steady at 4.25%–4.50% and continuing to unwind its balance sheet. These macroeconomic headwinds have weighed heavily on altcoins, especially high-beta assets like dogecoin. Despite this, DOGE found support as buying activity returned near the $0.164 level, forming a potential double bottom pattern that some analysts view as a base for consolidation. With volatility cooling and volume declining, the market appears to be waiting for a clearer signal before its next directional move. Price Action The sharpest sell-off came during the 15:00–16:00 window, where DOGE saw nearly 700 million units traded as price dropped below key support. Buyers stepped in at $0.164, lifting DOGE into a range between $0.168 and $0.171. Late-session trading showed price stabilizing above $0.170, with a bullish push at 01:21 sending DOGE to $0.1719 before fading. Price action since has traced a descending triangle with lower highs forming against flat support. Technical Analysis Recap DOGE fell from $0.176 to $0.164, a 6.7% drop, before finding support. Most intense selling hit during 15:00–16:00 with volume nearing 700M. Support formed at $0.164, followed by consolidation between $0.168–$0.171. Bullish push at 01:21 hit $0.1719 but was quickly rejected. Volume declined sharply in the final hours, with most candles under 3M. Descending triangle pattern formed, with resistance at $0.171 and support at $0.1705. Disclaimer: Portions of this article were generated with the assistance of AI tools and reviewed by CoinDesk’s editorial team for accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.