Dogecoin is back in the hot seat today as the broader crypto market takes a breather. After a brief rally fueled by #etf #hype , the momentum has fizzled out, leaving $DOGE to battle for its life at the crucial $0.12 support level.
The current pullback isn't a random fluke. While the initial "ETF fever" gave #DOGE a nice lift, the follow-through wasn't there. As institutional inflows failed to meet high expectations, early gainers started cashing out, putting the meme coin back on the defensive.
This lack of buying power, combined with a generally hesitant market, has allowed bears to regain the upper hand.
DOGE is currently trapped in a persistent descending channel, struggling to break through trendline resistance in the $0.13–$0.14 range. Every time it nears those levels, sellers have stepped in to push it back down.
If DOGE fails to #hold the $0.12 floor, we could see a quick slide toward the $0.10–$0.11 territory as panic #selling sets in.
If buyers step in at this demand zone, look for a relief rally back toward $0.1320. A break above that could clear the path for a retest of the $0.14 mark.
For now, the moving averages are clustered together, signaling a period of high indecision. The next 48 hours will likely determine whether Dogecoin finds its footing or prepares for a colder winter. $SHIB $BB
