Highlights Bitcoin price traded below $73,500 as US inflation exceeded market expectations. Dogecoin price hit $0.0666 as whale wallets shed 750 million DOGE. DOGE could slide to $0.061–$0.063 if Bitcoin drops to $70,000.
Dogecoin price hovered at $0.068 on Wednesday after dropping 2.88% during Tuesday’s selloff. The meme coin fell faster than Bitcoin, which lost 2.08% over the same session. That gap offers a guide to how DOGE could trade if Bitcoin slides toward $70,000.
Bitcoin Slides as Hot US Inflation Fuels Crypto Liquidations
US consumer prices rose 0.4% in October from the previous month, exceeding the 0.3% increase economists expected. Core inflation, which strips out food and energy prices, rose 0.3%, compared with a forecast of 0.2%. The reading raised concern that the Federal Reserve could keep interest rates elevated for longer.
Exchanges liquidated about $178 million in leveraged bets on rising crypto prices within an hour of Tuesday’s report. By late Tuesday, crypto futures liquidations reached $716 million over 24 hours, with long positions accounting for most.
Bitcoin price fell below $73,000 that day and traded under $73,500 early Wednesday. Ether traded below $2,050 after losing nearly 4% since the week began, while XRP moved closer to $1.
US spot Bitcoin exchange-traded funds posted $95 million in net outflows Tuesday, marking their fourth straight session of withdrawals. The funds have recorded about $1.6 billion in net withdrawals since the start of November.
Dogecoin Hits a Yearly Low as Whales Cut Holdings
DOGE price traded as low as $0.0666 on Tuesday, its lowest price this year. The new trough undercut a November 8 low near $0.0670 after Monday’s brief rebound failed to hold. Combined trading volume on tracked exchanges rose roughly 35% from Monday’s level.
Wallet data showed that large holders had reduced their combined balances by about 750 million DOGE during the downturn. The figures cover wallets with 100,000 to 100 million tokens and track changes since November 3.
Trading data showed large orders across spot and futures markets, with sellers dominating activity in each.
Weak Momentum Puts DOGE’s $0.065 Support in Focus
DOGE remains below its 50-day, 100-day, and 200-day exponential moving averages, which range from $0.079 to $0.088. The daily relative strength index (RSI) sits in the low 30s, just above the typical oversold threshold of 30. The MACD line remains slightly below zero, reinforcing the signal from the RSI.
A break below Tuesday’s low would shift attention to the next support near $0.061. A daily close below that level on rising volume would make a deeper decline more likely.
Could DOGE Fall to $0.061-$0.063 if Bitcoin Hits $70K?
A fall from Bitcoin’s Tuesday close near $73,698 to $70,000 would represent a drop of about 5%. DOGE’s percentage losses ran roughly 1.4 times Bitcoin’s on November 5 and November 10.
The same pattern would imply a 7% drop in DOGE from $0.068 to about $0.063. A DOGE drop twice as steep as Bitcoin’s would put it near $0.061.
A sustained Bitcoin break below $70,000 accompanied by fresh liquidations could push DOGE toward $0.060. A quick Bitcoin long-term prediction rebound above $75,000 could help DOGE defend its recent low and revisit the 0.0685–0.0702 range.
