Key Takeaways:
DOGE falls 7.5% to a two-week low at $0.164 amid broader crypto sell-off.
Price forms a potential double bottom as buyers return near key support.
Market sentiment remains cautious ahead of the Fed rate decision and ongoing Middle East tensions.
Dogecoin (DOGE) slid 7.5% in 24 hours, hitting a low of $0.164 before bouncing slightly, as crypto markets react to mounting geopolitical risks and tight U.S. monetary policy. The memecoin's decline followed intensified fighting between Israel and Iran, prompting a broader risk-off move across digital assets.
DOGE had peaked at $0.176 before intense selling during the 15:00–16:00 UTC window pushed the price sharply lower on 700M+ DOGE traded. Buyers returned at the $0.164 level, stabilizing price action in the $0.168–$0.171 range.
Analysts note that DOGE has formed a descending triangle, with lower highs and stable support near $0.1705. This pattern suggests a breakout—or breakdown—may follow depending on macro conditions.
Market Outlook
With the Federal Reserve expected to hold interest rates steady at 4.25%–4.50% this week, traders are watching the dot plot projections for hints on future cuts. Altcoins like Dogecoin, often seen as high-beta assets, remain sensitive to shifts in global risk appetite.
