Dogecoin price has fallen 3.84% to $0.0905 in the last 24 hours following the Federal Reserve’s decision to hold interest rates steady, amplifying bearish technicals and testing critical support levels amid a stronger US dollar and higher Treasury yields. Dogecoin price dropped to $0.0905 as the Federal Reserve confirmed its hold on interest rates, triggering a immediate risk-off reaction across high-beta assets. This 3.84% decline over the past 24 hours from recent highs near $0.095 underscores heightened selling pressure, with trading volume spiking to $938 million in 24 hours, up from prior days but dominated by sells. The Federal Reserve’s decision to maintain current interest rates, announced late last week, dashed market hopes for near-term cuts.
This led to higher Treasury yields and a stronger US dollar, creating headwinds for risk assets like Dogecoin. DOGE, known for its high-beta sensitivity to macro shifts, suffered outsized losses, falling from $0.094 on March 21 to $0.0905 by March 23. Confirmed price action shows DOGE opening around $0.091 on March 23 before hitting a low near $0.089. This extends a weekly decline of 10.64%, with market cap contracting to $13.94 billion.
Circulating supply stands at 153.52 billion DOGE, highlighting its inflationary model that adds downward pressure in risk-off environments. Trading volume reached $938 million in 24 hours, up from prior days but dominated by sells. Perpetual futures turnover hit $7.09 million on platforms like Phemex, reflecting leveraged position unwinds. Technical indicators signal 70% bearish sentiment, with the Fear & Greed Index at 8, indicating extreme fear.
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