US CPI Puts Selling Pressure on Dogecoin and Crypto Market

The price of Dogecoin (CRYPTO: DOGE) is slipping on Monday morning amid fresh selling pressure following the release of the US CPI data.

What Happened: The price of Dogecoin is down 7% over the last 24 hours and now trades at $0.188 at the time of writing. The world’s largest meme coin has come under strong selling pressure and slipped more than 7% and fell below the crucial support of $0.19.

This fall comes amid the broader crypto market fall, amid fresh selling pressure following the release of the Consumer Price Index (CPI) data on Monday.

The daily trading volume for the largest meme coin fell by 16% to $1.36 billion. The total futures open interest for Dogecoin also dropped by 5.38% to $2.08 billion, which indicates bearish sentiment among traders.

According to the technical chart formation, Dogecoin must reclaim the crucial support of $0.19. If the price fails to do so then it can trigger a further fall to $0.12.

"Dogecoin is approaching a Support Trendline 🔥

Is it going to hold, or will the price drop further?

We'll see!

#Doge"

— Trader Tardigrade (@TATrader_Alan) June 12, 2025

Dogecoin’s recent price action has also been fueled by speculation over a potential ETF. Data from Polymarket shows that the odds of the SEC approving a DEOG ETF by year-end are placed at 51%.

This move could bring in institutional capital, which could impact the market significantly.

The meme token’s integration with Coinbase’s (NASDAQ:COIN) Base network is also bringing wrapped DOGE to decentralized finance (DeFi) ecosystems on a large scale for the first time. This integration will enhance the token’s functional value and utility within DeFi platforms.

Dogecoin has also attracted high-volume support at critical levels, which could signal that institutional investors are accumulating the token. However, retail traders remain cautious, which shows the divergence in market sentiment.