Dogecoin (DOGE) slipped under $0.13 on Dec 23 as spot selling increased and traders chased volatility. The drop kept pressure on a meme coin that surged after the 2024 US election. Market watchers now treat $0.13 as the key near-term pivot.
Dogecoin jumped after the 2024 US presidential election as risk appetite returned across crypto markets. The token rose about 152% in November and later peaked near $0.4846. The “DOGE” acronym linked to a government efficiency initiative also drew speculative buying.
However, a $1 target required sustained inflows that did not materialize. A $1 price would imply a market value near $147 billion at the current supply. Dogecoin also has no fixed supply cap. About 5 billion DOGE enter circulation each year, increasing demand and supporting higher prices.
Selling picked up as DOGE approached $0.48, with early buyers taking profits. That area then became a strong resistance zone, and subsequent rebound attempts lost momentum. Meanwhile, market activity cooled as interest faded. Daily trading volume dropped from about $15 billion at the peak to lower levels later in 2025.
Liquidity also rotated into newer political-themed meme coins, reducing attention on Dogecoin. Large holders showed limited accumulation during the decline. Consequently, retail demand carried a larger share of the rebound when liquidity remained thin.
Dogecoin price broke below $0.1300 after sellers pushed through the prior floor on heavy volume. Buyers who had defended $0.13 stepped back, and the level flipped into supply. Price later steadied near $0.1290 as activity cooled.
Dogecoin derivatives turnover expanded sharply, signaling rising volatility expectations. Futures volume jumped to about $260 million even as the spot price weakened. That mix often reflects repositioning rather than a clean directional bet. Meme coins also react quickly to shifts in leverage and liquidity pockets.
The intraday range widened to roughly $0.0047, or about 3.6%, confirming a more volatile tape. Traders watch open interest, since falling leverage can mute upside squeezes. Short timeframes still show a descending channel. Price trades below short-term moving averages, which can keep rallies shallow. Hence, $0.13 now matters as the pivot for near-term direction.
If DOGE reclaims $0.13 and holds it, a short-covering bounce could target $0.1320 and then $0.138. If it fails, sellers may probe $0.1285 to $0.1280 next. A deeper slide could bring $0.10 into view if pressure persists.
Also Read: Why Dogecoin Still Dominates the Meme Coin Market?
Dogecoin still shows thin real-world usage compared with major payment options. Roughly 2,300 merchants accept DOGE, many in niche online services. Dogecoin’s one-minute block time also limits throughput for heavier payment use cases. Discussions around sidechains or layer-2 upgrades have moved slowly.
Regulated products arrived, yet inflows stayed small. Spot Dogecoin exchange-traded funds launched in the United States in late 2025. Total net assets across these products stood at $5.4 million in December, with inconsistent weekly flows. As a result, ETF demand did not provide enough support for a $1 narrative.
On-chain cost metrics also constrain rebounds. DOGE trades below an estimated realized price of $0.14, which leaves many holders underwater. When prices rise, some holders sell into strength to exit their positions. Moreover, that supply can cap breakouts without fresh demand.
Dogecoin can still recover if spot demand returns and sentiment improves. A stronger bid could open a move toward $0.20 over time. Until then, $0.13 remains the level that sets the tone.