Dogecoin Loses $0.13 Floor as 53,000% Futures Spike Signals Major Volatility

A 53,000% surge in futures volume is flashing a warning sign for Dogecoin. As Dogecoin (DOGE) slipped below the critical $0.13 level amid heavy spot selling, derivatives activity exploded. BitMEX reported that futures volume for the token soared to $260 million, suggesting traders are positioning for wider price swings rather than an immediate rebound.

The Psychological Floor Cracks

Over the past 24 hours, DOGE fell 2.3%, breaking the key $0.13 support. According to CoinDesk data, the breakdown was confirmed during U.S. hours on Dec. 23 at 16:00 when trading volume hit 639 million tokens—about 101% above the session average. This spike indicated a clear shift in market dynamics, as buyers who had previously defended the level stepped back, turning former support into new resistance.

What to Watch: The Battle for $0.13

The market's next move now hinges on whether DOGE can reclaim $0.13. If it can successfully retake and hold this level, the dip could be seen as a temporary flush-out, potentially triggering a short-covering bounce back toward $0.1320. However, a failure to do so would likely see the price probe the next demand cluster around the $0.1280–$0.1285 zone.