Outflows Weigh on Dogecoin as Technical Indicators Point to Continued Weakness

Dogecoin Slides 4% as Traders React to Fed Pause and Global Trade Uncertainty

Dogecoin (DOGE) extended its decline on Friday, dropping 4% over the 24-hour period ending August 3 at 04:00 (UTC+7), as macro-driven selling pressure swept across high-volatility crypto assets. The move came as the Federal Reserve held interest rates steady and investors digested rising trade risks and reduced odds of a September rate cut.

DOGE briefly dipped to $0.188 before recovering to close at $0.195, with volatile trading triggered by sharp volume spikes and heavy resistance near the $0.20 mark.

Market Recap

Price Action: DOGE traded in a 7.14% intraday range, falling from $0.20 to $0.188 before staging a modest recovery.
Volume Surges: Turnover hit 918.53M at 06:00 and 502.81M at 14:00 — both well above the daily average of 385.67M — signaling strong exit activity from large holders.
Support Zone: Buyers stepped in around $0.188–$0.190, pushing DOGE to an intraday rebound of $0.194.
Upside Capped: Multiple rallies failed to clear the $0.202–$0.203 resistance area, confirming overhead supply.

Macro Overhang Pressures Meme Coins

The weakness in DOGE reflects broader risk-off sentiment following the expiration of a global reciprocal tariff pact, which has triggered trade barriers affecting over 90 countries. The Fed’s decision to hold rates — and monitor further economic data — diminished expectations for near-term easing, putting pressure on high-beta assets like meme tokens.

DOGE’s sensitivity to shifting liquidity conditions and speculative positioning made it especially vulnerable in the current environment.

Technical Overview

Resistance Levels: The $0.202–$0.203 band remains structurally intact as a ceiling.
Support Strength: Volume concentration at $0.188–$0.190 suggests attempted accumulation or bottom-fishing.
Final Hour Move: DOGE declined 0.53% in the final 60 minutes, slipping from $0.196 to $0.195 with low-range support at $0.1952 and resistance at $0.1963.
Volatility Outlook: Sustained above-average volume points to further turbulence over the weekend.

Key Themes for Traders

Will DOGE Hold $0.19? A breakdown could signal further weakness across meme tokens.
Macro Drivers in Focus: Fed rate path, U.S.–global trade dynamics, and cross-asset rotation will likely dictate direction.
Liquidity Shifts: Continued rotation out of meme coins into more stable or yield-bearing assets may persist short-term.