Dogecoin extended its pullback on January 16, sliding roughly 3.4% as price broke below the $0.14 level. The move was driven by active selling, with volume expanding into the breakdown rather than fading on low liquidity. DOGE fell from the mid-$0.14 area to trade near $0.139, marking a clear loss of short-term support.
Breakdown Confirmed by Volume
Price action shows DOGE rolling over after a series of lower highs capped near $0.145. That structure weakened yesterday, with the $0.142 support zone failing decisively. The breakdown accelerated late on January 15, when trading volume spiked well above recent norms. The surge in activity coincided with a fast move through support, confirming that the decline was driven by sellers stepping in rather than a quiet drift lower. Once below $0.142, DOGE slid quickly toward the $0.14 handle. Buying interest there proved limited.
Failed Rebound Keeps Pressure Intact
In the final stretch of trading, Dogecoin attempted a brief rebound that stalled near $0.1402. That bounce attracted fresh supply almost immediately, pushing price back down and reinforcing the bearish intraday structure. A sharp volume increase near the close accompanied a dip toward $0.139, suggesting forced selling or liquidation-driven flows rather than orderly profit-taking. The inability to reclaim $0.14 before the session ended left DOGE pinned near the lows.
Market Backdrop
The move comes amid cooling appetite across meme tokens, with traders increasingly quick to sell strength in the absence of new catalysts. While broader crypto prices were relatively stable, Dogecoin underperformed as liquidity thinned and rallies were consistently sold. For now, price action remains defined by lower highs and failed rebounds, with the $0.14 area flipped from support into near-term resistance.