Dogecoin slumps 7% as bitcoin risk-off rattles memecoin bets

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Dogecoin slumps 7% as bitcoin risk-off rattles memecoin bets The token broke below key support at $0.1218 on heavy volume, turning that level into near-term resistance even after a brief bounce from around $0.115. By Shaurya Malwa , CD Analytics Jan 29, 2026, 5:09 p.m. Make us preferred on Google (CoinDesk Data) What to know : Dogecoin fell about 7 percent as bitcoin retreated, with the memecoin underperforming larger cryptocurrencies amid a broader risk-off move. The token broke below key support at $0.1218 on heavy volume, turning that level into near-term resistance even after a brief bounce from around $0.115. Traders are watching the $0.115–$0.12 zone as a critical decision area, with a hold and reclaim of $0.1218 suggesting stabilization, and a breakdown below $0.115 opening downside toward $0.108–$0.10. Dogecoin slid sharply as bitcoin pulled back, breaking a key support level and forcing traders to reassess whether the memecoin is stabilizing — or rolling into a deeper corrective phase. News Background Dogecoin fell alongside broader crypto weakness as bitcoin retreated, dragging high-beta tokens lower. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . The move wasn’t driven by a DOGE-specific headline, but by risk-off positioning, with memecoins once again underperforming majors during the pullback. At the same time, on-chain data showed a sharp drop in large DOGE transactions, highlighting reduced participation from bigger players as price approached critical support levels. Technical Analysis DOGE broke decisively below $0.1218, a level that had acted as short-term support, triggering accelerated selling into the session close. The breakdown occurred on heavy volume, confirming the move as active distribution rather than low-liquidity drift. Price briefly flushed toward $0.115, where buyers stepped in to defend the level, producing a short-term bounce back toward $0.116. That reaction suggests demand still exists near the lower end of the range — but structure remains fragile unless DOGE can reclaim former support. The loss of $0.1218 flips that zone into near-term resistance, with rallies now likely to face selling pressure. Price Action Summary DOGE fell about 7%, sliding from $0.1245 to $0.1162 Selling accelerated after price broke below $0.1218 A sharp flush found support near $0.115 Price rebounded modestly but remains below key resistance What traders say is next? Traders are focused on the $0.115–$0.12 zone as the next decision point. If $0.115 holds, DOGE could stabilize and attempt a range rebuild — but bulls would need a reclaim of $0.1218, followed by $0.125, to signal the breakdown was corrective rather than structural. If $0.115 fails, downside risk opens toward $0.108–$0.10, with momentum likely to accelerate as remaining support gives way. For now, DOGE remains a high-beta trade tied closely to bitcoin, with technical levels — not narratives — dictating direction. More For You Pudgy Penguins: A New Blueprint for Tokenized Culture By CoinDesk Research Dec 30, 2025 Commissioned by Pudgy Penguins Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale. What to know : Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token. The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility. View Full Report More For You Bitcoin’s major safety net just snapped. Why a drop below $85,000 might risk more selloff By Omkar Godbole | Edited by Aoyon Ashraf 3 minutes ago Bitcoin price just fell through that price floor it's been bouncing off for two months. Now charts might be pointing to $75,000 as next level to watch. What to know : Bitcoin has fallen decisively below its 100-week simple moving average around $85,000, signaling that sellers have taken control after two months of support at that level. Traders are now watching $75,000 as the next major support zone, where buyers previously stepped in last April to halt a downtrend. A further slide could see bitcoin test its 200-week average near $58,000, while a sustained move above $95,000 would be needed to restore a bullish outlook. Read full story Latest Crypto News Bitcoin’s major safety net just snapped. 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