Dogecoin Drops 9% Before Partial Rebound on Monday

Dogecoin experienced a volatile trading session on Monday, dropping more than 9 percent before staging a partial rebound, as broader cryptocurrency market weakness pressured risk assets. The meme coin, trading around 0.135 to 0.15 during the day, fell from 0.1387 to an intraday low of 0.1322 on elevated selling volume of 854 million units, about 180 percent above its daily average, before recovering to near 0.136 by late session.

The decline marked a breakdown below the key 0.1350 support level, completing a short-term bearish reversal after weeks of consolidation above an ascending trendline. Trading volume surged during the drop, showing signs of distribution with sharp price expansion and limited initial buying depth. However, buyers intervened late, pushing the price up 2.7 percent from the low and retesting the broken support, forming potential early signals of a double-bottom pattern. Momentum indicators on mid-timeframes displayed bullish divergence, suggesting accumulation by institutions or swing traders in the 0.1327 to 0.1350 range.

Whale activity, involving large transactions over 1 million units, hit two-month lows with just four transfers recorded, down from a...