Dogecoin Falls 5% as Lower-Lows Pattern Aids Bearish Outlook
CoinDesk
Dogecoin dropped 5% to $0.16, breaking support amid heavy institutional selling that confirmed a bearish lower-lows pattern.Summary
Dogecoin (DOGE) tumbled 5% to $0.16, breaching critical support levels due to significant institutional selling pressure, evidenced by heavy whale distribution and a spike in trading volume 94% above average. On-chain data corroborated this, showing $440 million in DOGE outflows from large-holder wallets. After hitting a session low of $0.1528, a brief rebound was capped at $0.1700, as the price consolidated below $0.1620. Technically, DOGE remains in a clear bearish structure characterized by lower highs and lower lows. Traders are watching the $0.1550–$0.1555 support zone; a breakdown below this could expose $0.1500, while sustained recovery above $0.1650 is needed to invalidate the current descending pattern.
(Source：CoinDesk)