Dogecoin Price Drops After Rejection at $0.124 Resistance Level

Dogecoin (DOGE) has reversed its recent upward momentum, experiencing a price decline after being unable to sustain a position above the key $0.124 level. This resistance point proved significant, leading to a bearish turn in the market. The failure to hold this psychological and technical threshold suggests a shift in trader sentiment and potential increased selling pressure. Analysts are now watching for the next major support levels as DOGE corrects from its recent highs. The broader cryptocurrency market sentiment often influences meme coins like Dogecoin, contributing to its heightened volatility following such rejections.