Peter Smith
Dogecoin (DOGE) took a hit after the Federal Reserve dashed hopes for near-term rate cuts, triggering a wave of institutional selling across the crypto market.
DOGE Price Gets Wrecked in Massive Selloff
DOGE just got absolutely destroyed, crashing 4% from $0.20 to $0.19 in 24 hours. Volume went crazy - spiking to 918.53M and 502.81M, way above the usual 385.67M average. That's not retail panic, that's big money running for the exits.
The Fed basically crushed everyone's September rate cut hopes by keeping rates unchanged, and high-risk assets like meme coins got hammered first. Doesn't help that 92 countries are now facing trade barriers after some tariff framework expired. When macro conditions turn ugly, DOGE always gets hit hardest.
Technical Picture Shows More Pain Ahead
DOGE kept getting rejected at $0.202-$0.203 resistance - every rally got smacked down hard. Support showed up around $0.188-$0.190 where volume exploded to 667.44M, probably some bottom fishing.
But honestly, with resistance holding strong and the macro environment looking rough, it's hard to see much upside. Traders are watching whether DOGE can hold $0.19 support or if we're heading for another leg down. With the Fed staying hawkish and trade tensions heating up, things could get worse before they get better.
Peter Smith
