Just caught DOGE's nasty breakdown session — dropped 6.7% to $0.1605 after losing that critical 0.17 level. Volume absolutely exploded, up 76% above weekly average, which screams institutional distribution rather than random retail panic selling.

The real story here is that 59M DOGE dump in the final hour that flushed price straight down to $0.1600. There was this massive 1.44B token wall sitting around $0.1702 that just rejected every bounce attempt this morning. Once that broke, it triggered a cascade of liquidations and algo stops firing off.

Now the bears have control. That 0.17 resistance is locked in as overhead supply, and traders are watching if $0.1600 can actually hold or if we're grinding lower into $0.1550-$0.1500. The structure looks bearish continuation — lower highs and lower lows. Meanwhile, DOGE is underperforming the broader market by like 1.4%, which suggests this is token-specific weakness, not just general alt liquidation.

Whales are clearly rotating out of meme exposure as liquidity tightens. The oversold readings are there but no reversal signals yet, so unless we get a real catalyst, this could just keep drifting. Watching to see if spot buyers step in or if the whale net outflow continues through U.S. hours.