Dogecoin Falls Below $0.13 Amid Heavy Selling and Surge in Futures Volume Signaling Increased Volatility
Dogecoin fell below the critical $0.13 level due to heavy spot selling and increased derivatives activity, indicating that traders expect more volatility ahead. After U.S. trading hours, DOGE broke below $0.1300, with volume reaching 639 million tokens at 16:00 on December 23 — about 101% above the session average — flipping the $0.13 mark from support to overhead supply.
Intraday price action saw Dogecoin slide through supports at $0.1295 and $0.1292, forming a descending channel with prices trading below short-term moving averages, suggesting shallow rallies until the $0.13 level is reclaimed. Over the past 24 hours, DOGE declined 2.3% from $0.1323 to $0.1292, while the intraday range widened to about 3.6%, reflecting growing volatility.
BitMEX reported a 53,000% surge in Dogecoin futures volume to $260 million, highlighting rising expectations for volatility even as spot prices weaken. The increase in futures activity suggests traders are positioning for continued swings in meme coins like Dogecoin, which may lead to sharp squeezes but also rapid declines if liquidity dries up and stops are triggered below $0.1290.
Reclaiming the $0.13 level could trigger a short-covering bounce toward $0.1320, while failure to do so may push DOGE toward the next demand zone near $0.1285–$0.1280. The heightened futures activity is linked to potential amplified moves as key levels break, signaling bigger swings ahead for Dogecoin.
