Dogecoin Crashes 10% After-Hours, Bulls Search for Support

Dogecoin Drops Over 10% in Midnight Dip, Traders Watch for Rebound Pattern

Dogecoin took a sharp turn lower overnight, falling more than 10% in a sudden wave of selling that hit around midnight. The memecoin dropped from $0.226 to $0.202 amid a spike in trading activity, with volume soaring to 1.18 billion during the move.

The sell-off, which appears to have been triggered by broader market uncertainty, sparked a swift reaction among traders. DOGE has since stabilized slightly, hovering between $0.202 and $0.206 as the market searches for direction.

Technicians are watching closely for signs of a double-bottom formation, a classic bullish reversal signal that could pave the way for a breakout if DOGE can break through the $0.217 resistance. A successful move above that level could see momentum build toward the $0.25 region.

For now, however, the price remains range-bound. A modest recovery between 09:43 and 09:56 pushed DOGE back to $0.205, though thin volume suggests limited conviction behind the bounce.

Meanwhile, open interest in DOGE derivatives rose 2.89% to $2.71 billion, indicating that traders are positioning for increased volatility ahead—though sentiment remains mixed.

Quick Highlights:

• DOGE plunged 10.6% from $0.226 to $0.202 in a sharp midnight drop.
• Key resistance stands at $0.217; consolidation persists just below.
• Possible double-bottom formation developing, but unconfirmed.
• Open interest points to renewed trader engagement.

With volatility simmering and technical patterns in play, Dogecoin’s next decisive move may be just around the corner.

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