Dogecoin Finds Support Around 16 Cents After 6% Drop

Dogecoin is showing early signs of recovery after a steep decline triggered by profit-taking among market participants. The asset dropped nearly 6% over 24 hours but found significant buying interest at $0.158, establishing a short-term support zone as markets digested geopolitical headlines and economic uncertainty. News Background Global markets remain on edge as tensions between major economies and shifting monetary policy outlooks drive volatility. While ceasefire agreements in the Middle East have slightly eased investor anxiety, crypto assets — particularly memecoins — remain highly sensitive to sentiment swings. DOGE’s sharp pullback follows a broader risk-off tone in digital assets, but late-session accumulation suggests some traders view the dip as a buying opportunity. DOGE’s partial rebound coincides with renewed social buzz and short-term technical setups that have historically preceded price bounces. Analysts remain divided on the strength of this recovery, but volume-backed support at $0.158 is now in focus heading into the next session. Price Action DOGE traded in a wide 24-hour range between $0.167 and $0.158, representing a 5.7% decline before stabilizing late in the session. Heavy selling persisted until 13:00 UTC, when the price began to consolidate. Buyers stepped in with 229M DOGE traded during the 01:00 hour, helping DOGE recover to $0.161 by session close. In the final hour, the asset gained 1.47%, rising from $0.159 to $0.161 on a clear uptrend with higher highs and higher lows. Volume surged to 4.7M during the breakout above $0.161, and brief consolidation established support at that level heading into the new day. Technical Analysis Recap • DOGE dropped from $0.167 to $0.158 over 24 hours, a 5.7% decline • Downtrend persisted until 13:00, followed by consolidation and modest recovery • Heavy sell volume of 425M DOGE recorded during 13:00 hour • Strong buying interest emerged at $0.158 with 229M DOGE traded at support • DOGE closed at $0.161 after 1.47% late-session gain • Breakout above $0.161 confirmed with 4.7M DOGE in volume during 01:39–01:42 • Support established at $0.161 following brief consolidation from 01:52–01:59