DOGE drops to roughly $0.123 as intensified year‑end sell‑offs push the memecoin through support

Dogecoin Drops to $0.1226 as Year-End Selling Pushes Through Support

Dogecoin (DOGE) fell 3% to $0.1226, breaking a key $0.1248 support level as year-end selling pressure intensified. Volume during the move surged roughly 157% above average, signaling active distribution rather than thin‑liquidity drift, keeping DOGE near the lower end of its December downtrend.

Technical Overview
The breakdown sent DOGE into a $0.122–$0.123 demand zone. Roughly 857 million DOGE changed hands during the decisive leg lower, confirming that sellers dominated short-term rebounds toward $0.1270. The token remains trapped in a descending channel with consecutive lower highs. RSI sits near 37, showing oversold conditions, but oversold readings alone haven’t been enough to reverse the bearish trend amid thin year-end liquidity.

Market Context
Year-end positioning and distribution from large holders—about 150 million DOGE over five days—have capped rallies. Meanwhile, open interest in DOGE futures climbed above $1.5 billion, indicating traders are maintaining exposure into 2025. This divergence between leveraged positions and a weakening spot market is keeping volatility elevated.