Dogecoin extended its late-December slide on Tuesday. Year-end selling pushed the DOGE price to $0.12 and broke nearby support. The token fell about 3% to around $0.1226. It stayed inside December’s downtrend as traders watched the next demand zone.
CoinGecko data showed DOGE down about 6% weekly and 18% monthly. Holiday liquidity remains thin, so breaks can accelerate quickly. Sellers have used rebounds to reduce exposure and defend lower highs across December. That behavior has kept DOGE near the lower channel boundary into the final sessions of 2025 trading.
Sellers drove DOGE below $0.1248 during the most active trading window. The move also drew heavy volume. Turnover ran roughly 157% above the session average. That signal points to broad participation, not thin-holiday drift.
About 857 million DOGE were issued during the decisive leg lower. The print aligned with distribution-style price action. Traders now treat $0.1248 as resistance. The first upside hurdle sits near $0.1270. Consequently, rallies toward that area have drawn supply. Buyers have struggled to hold gains amid uneven liquidity.
Large holders added pressure as whale wallets distributed about 150 million DOGE over five days. That flow capped rebound attempts near range lows. Momentum indicators still showed stretched conditions. RSI readings near the high 30s have not produced sustained reversals.
Derivatives traders still kept exposure on the books. Open interest climbed back above $1.5 billion. It shows continued positioning into 2025 despite a softer spot tone. However, leverage against weak spot structure often boosts volatility. Liquidations can speed up moves when price tests key levels.
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On the weekly chart, DOGE moved below the neckline near $0.1295. That neckline sits on a head-and-shoulders pattern. Dogecoin price is also trading below major moving averages. That setup keeps trend signals pointed lower. DOGE last traded under $0.12 in October 2024. Traders now monitor whether the market revisits that prior range.
Demand metrics also remain mixed. Data tracking the largest DOGE exchange-traded products showed limited inflows since approval. Assets under management stayed small relative to DOGE’s market value. In derivatives, the weighted funding rate turned negative at times. In addition, open interest retreated sharply from earlier peaks. The shift suggests that traders are now pricing in higher downside risk.
For near-term trade planning, the market has narrowed to two scenarios. A quick reclaim of $0.1248 could trigger a bounce toward $0.1270. Sellers may defend that zone. If $0.1226 gives way, traders may target $0.118 next. Prior demand and the lower channel boundary converge there. A deeper slide could bring $0.10 into view as support.