Dogecoin trading volume drops 49% as price falls to $0.079

Dogecoin, the popular dog-themed cryptocurrency, saw its trading volume plunge by nearly 50%, reaching $607 million over the past 24 hours, according to data from CoinMarketCap. The significant drop comes as broader cryptocurrency markets remain under selling pressure and weekend trading slows across digital assets.

Trading activity cools amid broader sell-off

Dogecoin’s trading activity has slowed notably, with volume down 49% compared to the previous day. Market analysts have observed that digital asset trading frequently softens on weekends when institutional and retail participation often declines.

The fall in Dogecoin’s activity unfolded as the token registered its fourth consecutive daily decline on Saturday. Market participants continued to react to inflation data that exceeded expectations and recent comments from US Federal Reserve Chairman Kevin Warsh about future interest rate directions.

Two weeks remain until the Federal Reserve announces its next interest rate policy decision. So far, Warsh has not provided any clear signals regarding whether the central bank intends to raise rates in the coming announcement.

DOGE price nears key support levels

Dogecoin is currently trading at $0.079, hovering just below the $0.080 mark. Noted crypto analyst Ali stated that the daily TD Sequential indicator has flashed a buy signal for the first time during this recent price correction. Ali suggested that if current support holds and buying momentum returns, resistance could be found at $0.087 and at the setup resistance trendline near $0.094.

Ali emphasized that with a buy signal on the daily TD Sequential, Dogecoin could see a rebound if support persists and buyers step back in, watching for resistance at $0.087 and $0.094.

Dogecoin entered this downward trajectory after touching a high of $0.097 on October 4, 2026. The price decline drove DOGE below its 50-day and 200-day moving averages. Technical readings indicate the daily relative strength index (RSI) has now dropped to 34, hovering near oversold levels.

If Dogecoin’s price stages a reversal, the $0.081 zone is considered pivotal due to significant historical trading activity at this level. According to UTXO Realized Price Distribution (URPD) data, around 36 billion DOGE previously changed hands near $0.081, reinforcing its importance as a support line.

Whale activity has also increased near $0.081, as large holders have reportedly accumulated approximately 600 million DOGE since October 12, indicating renewed interest at current levels.

If selling pressure persists, analysts anticipate strong support in the $0.07 region below the current price. This could serve as the next critical area to watch if Dogecoin continues to slide.

Mini dictionary: TD Sequential, a technical analysis indicator designed by Tom DeMark, identifies potential turning points in price trends by counting a series of price bars, aiming to spot exhaustion and possible reversal areas for traders.