Dogecoin has encountered significant resistance at the $0.15 level, forcing the memecoin into a prolonged decline that has tested investor confidence. The cryptocurrency attempted to break through this critical barrier on January 13 but failed to sustain momentum, resulting in a sharp reversal that has extended into the current trading week.
The initial rally on January 13 saw DOGE surge by 8.8% in a single session. Bulls pushed prices toward the local supply zone, marking the second attempt to breach this resistance after a failed breakout during the first week of January. Despite the aggressive buying pressure, the rally proved short-lived. The $0.150 supply zone sits just below the November swing high of $0.156, a level that would have signaled a bullish structure shift if breached.
At the time of writing, DOGE trades at around $0.1296, down 5.62% in the last 24 hours.
Market-Wide Weakness Accelerates Decline
Bitcoin's instability during Monday's early trading hours contributed to DOGE's accelerated descent. The broader memecoin sector experienced substantial losses, with a 6.66% reduction in total market capitalization over the past 24 hours. This widespread weakness reflects deteriorating sentiment across speculative cryptocurrency assets.
Liquidation data reveals the severity of the selloff. Traders absorbed $35.42 million in liquidations during the past day, with long positions accounting for $33.69 million of that total. The lopsided liquidation figures demonstrate how bullish traders were caught off guard by the rapid price deterioration.
Technical indicators paint a concerning picture for DOGE supporters. While the Chaikin Money Flow remained above +0.05 at press time, the On-Balance Volume indicator shows persistent seller dominance dating back to October. The memecoin surrendered the $0.129 low from April 2025, confirming that bears have regained control of this support level.
Severe Selling Pressure Limits Recovery Potential
Each price bounce has served as a profit-taking opportunity for investors holding underwater positions. The selling pressure has been relentless, preventing any meaningful recovery attempts. DOGE shed 62.8% of its value throughout 2025 when measured from the year's opening price to its close.
Recent reports highlighted weak conviction among large holders, particularly a 500 million DOGE deposit to Binance. Such movements typically indicate that sophisticated investors are preparing to sell. The hourly chart shows sizeable imbalances overhead, with a notable zone at $0.137 that coincides with the $0.136-$0.140 consolidation range that preceded the latest plunge.