Dogecoin’s value drops to $0.125 due to market-wide selling pressure

On Jan. 24, 2026, Dogecoin (DOGE) experienced a significant drop, falling to $0.125 due to increased selling pressure across the cryptocurrency market. This downward trend saw the token breaching short-term support levels, leading to a situation where traders closely monitored price movements for any signs of stabilization following a rapid decline. The overall weakness in the crypto market was evident, with liquidations on the rise and a decrease in risk appetite for high-beta tokens. Meme coins, including Dogecoin, faced the brunt of the selling pressure, contributing to higher trading volumes despite a decline in prices.

The technical breakdown for Dogecoin revealed a substantial drop from $0.1271 to $0.1250 within a 24-hour period ending on Jan. 23. This decline saw the token falling below the critical support level of $0.1254, accompanied by a surge in trading volume. The most significant move downwards occurred during the U.S. trading session when the trading volume peaked at 556 million.

As traders and investors navigated the challenging market conditions, the general sentiment indicated a cautious approach with regards to high-risk assets such as meme coins. The prevailing mood led to reduced exposure as market participants sought to protect their positions amidst the uncertain market environment. The increased selling pressure and declining risk appetite contributed to a sharp downturn in the value of Dogecoin, signaling a broader trend of weakness across the cryptocurrency market.

The market-wide selling pressure highlighted the vulnerabilities of high-beta tokens like Dogecoin, which tend to experience heightened volatility during periods of uncertainty. The significant drop in Dogecoin’s value underscored the importance of monitoring key support levels and trading volumes to gauge market sentiment and potential price movements. The overall market dynamics indicated a cautious approach among traders as they evaluated the evolving market conditions and adjusted their strategies accordingly.

In conclusion, Dogecoin’s decline to $0.125 amidst market-wide selling pressure reflected the broader challenges facing the cryptocurrency market. The increased liquidation activity, reduced risk appetite, and heightened volatility underscored the need for vigilance and strategic decision-making in navigating the complex and dynamic crypto landscape. Traders and investors remained attentive to key indicators such as support levels, trading volumes, and market sentiment to make informed decisions in response to evolving market conditions.