Dogecoin experienced a significant decline, dropping 2.6% in a single session as traders reduced risk exposure following the Federal Reserve's rate decision. The cryptocurrency fell below a crucial support level of $0.1407 on December 12, with trading volume surging by 348% due to forced liquidations. Despite the selloff, Dogecoin rebounded to $0.1376, forming a V-shaped recovery. Market participants are now closely monitoring the $0.1372 support level for further market direction.