Dogecoin (Doge) Crashes To $0.12 On Coinbase, But This Market Metric Hints At Hope

Dogecoin dropped over 7% on Monday to a low of $0.121 on Coinbase, amid a broader cryptocurrency and global market sell-off triggered by concerns over potential new U.S. tariffs on European goods. The decline in price came alongside a sharp rise in trading activity, with Dogecoin's spot market volume up 227% to $1.99 billion and derivatives volume surging 169% to $4 billion, according to market data.

Liquidations totaled $35.38 million for Dogecoin derivatives, contributing to a wider $878 million crypto market wipeout, largely from long positions. Despite the decline, technical indicators such as a sub-30 RSI level and high liquidation volumes suggest possible short-term oversold conditions, raising the potential for a relief rally if a price bottom is confirmed at $0.121.