Dogecoin (DOGE) is trading at reduced levels today, September 22, 2025, with a 10% drop to0.23906626That is a big decrease, and many are asking themselves why is Dogecoin down today. DOGE seems to have suffered a steeper decline than other cryptocurrencies amid a big liquidation wave in the crypto market.
What’s Driving Dogecoin Price Today?
DOGE has been hit hard by a market-wide wave of liquidations, especially among long positions. This has had a huge effect on memecoins and altcoins, and is likely the main answer to why is Dogecoin down today.
There seems to be resistance rejection and technical weakness at play as well, kicking in even before the liquidations. Having faced rejection around the $0.30 mark and failed to secure a foothold above key moving averages, the price trend has turned bearish for the near future.
Also, the market at the moment is very volatile, with a lot of speculative trading. High volumes in futures and a focus on short-term bets (often made with borrowed money) are causing sharp price swings.
Dogecoin Price Levels To Watch
The $0.30 zone represents a strong overhead resistance, and recent attempts to break above here have failed. Considering Dogecoin is hovering around the $0.23 – $0.24 zone, if it can reclaim momentum and push past $0.30, the $0.27 – $0.28 zone may act as a near-term barrier.
The price range of $0.245 to $0.255 is an important support area that has held up before, so keeping the price above this level is key to avoiding more selling. There is another support level at about $0.225, though if the price falls below the higher support range, it could drop to this level.
What’s Next for Dogecoin?
Volatility is probably going to remain high, but if DOGE holds above $0.245 – $0.255, there is potential for a bounce back toward $0.28 – $0.30, more so if market sentiment improves.
In case the price falls below these support levels, it could slide down further. As such, the $0.225 price is particularly important, as if it breaks, the next likely stop could be between $0.213 and $0.220.
If you’re interested in more long-term predictions, check out our analysis for Dogecoin’s 10$ potential.
Conclusion
The huge number of liquidations is possibly the number one reason why is Dogecoin down today. The 10% drop is a sizable number, which puts pressure on some key resistance points.
Whether price resumes downward pressure or finds a footing will depend heavily on how the broader market behaves and whether DOGE can reclaim resistance zones.
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