Dogecoin Defies Meme Coin Sector Decline, Holds Ground

Dogecoin has managed to hold its ground in the midst of a broader decline in the meme coin sector. The combined market cap of all meme coins has dropped by 81.9% from its peak in November 2024, falling from $135.06 billion to $24.48 billion as of June 15.

The Dogecoin price has been consolidating between two clear levels on the daily chart: a candle range high at $0.09 and a candle range low at $0.08. The cryptocurrency is currently trading at $0.08735, sitting on the rising channel support that held every test since June 5.

A close above $0.09 would confirm the liquidity sweep was the June low, but until then, the setup remains in no-man's land between two clearly defined boundaries.