Dogecoin recently fell by 1.97%, from $0.20 to $0.19 within 24 hours. This decline, along with increased trading volume, has intensified pressure on the memecoin. Institutional investors withdrawing capital, along with global trade tensions and interest rate instability, have significantly weakened risk appetite. The intraday volatility, dropping to a low of $0.188, indicates difficulties in maintaining the price within the $0.188–$0.190 range.

Price Outlook for Dogecoin

Throughout the day, Dogecoin fluctuated within a narrow but volatile range of $0.01, equivalent to 7.14%, dropping to $0.188. The highest and lowest prices recorded during the trading session were $0.203 and $0.188, respectively. Although trading volume spiked at certain points, the average 24-hour volume remained at $385.67 million. Significant selling volume supported periodic pullbacks from the resistance area, identified in the range of $0.202 to $0.203.

In the range of $0.188–$0.190, where sellers had retreated, trading volume surged to $667.44 million, allowing for a limited reaction and recovery up to $0.194. In the final 60 minutes coinciding with the market close on August 2, the price dropped from $0.196 to $0.195, resulting in a neutral closing with a decrease of 0.53%. Despite the decline, trading volume remained above average.

Macroeconomic Challenges for Memecoin

The weakening of Dogecoin's price is not only due to technical signals. The expiration of bilateral tariff agreements, forcing 92 countries to endure higher taxes, has disrupted global risk sentiment and accelerated a wave of capital outflows from volatile cryptocurrencies. The instability in export prospects for emerging markets has increased risk premiums, prompting organizations to restructure their portfolios. At the same time, the decision to maintain interest rates by the U.S. Federal Reserve (Fed) on Wednesday has limited expectations for a rate cut in September, increasing pressure on the cryptocurrency market.

Investors are currently closely monitoring whether Dogecoin can maintain the support level of $0.19. Strong resistance has emerged at $0.202, increasing the likelihood of a failed bullish attempt. The shift of liquidity from meme-based coins to safer coins, along with profit-taking in options positions, sets the stage for ongoing volatility and large volumes. This makes DOGE susceptible to significant fluctuations in both directions, increasing instability.