Dogecoin Slides to $0.1226 as Support Breaks Amid Year-End Selling

Dogecoin (DOGE) dropped 3% to $0.1226, breaking key support at $0.1248 as year-end selling intensified. Trading volume surged about 157% above average, signaling that the move was driven by active selling rather than thin liquidity. The token remains near the lower end of its December downtrend.

Technical Analysis
The breakdown pushed DOGE into the $0.122–$0.123 demand zone, with roughly 857 million DOGE traded during the decline. Short-term rebounds toward $0.1270 have stalled as sellers defend lower highs. DOGE remains trapped in a descending channel. RSI around 37 indicates oversold conditions, but that alone hasn’t reversed the bearish trend in thin year-end markets.

Market Context
Year-end positioning and whale distributions—around 150 million DOGE over five days—have limited rallies. Open interest in DOGE futures rose above $1.5 billion, showing traders are maintaining exposure, keeping volatility elevated despite weakening spot momentum.