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Dogecoin slides under $0.08 amid falling open interest and rising liquidations, with support at $0.0879 and next downside target $0.0800.
Dogecoin (DOGE) slipped below the $0.08 mark on Thursday, breaking a key psychological level and prompting concerns of further downside as short‑seller dominance intensified across derivatives markets【1】. The move comes amid shrinking open interest, rising liquidations and negative funding rates that signal a broader risk‑off sentiment.
| At a glance | |
|---|---|
| Price | <$0.08 |
| 24‑hour change | –1.2% (approx.) |
| Key level | Support at $0.0879; next downside target $0.0800 |
| Catalyst | Declining open interest and rising liquidations in DOGE derivatives【2】 |
Open interest in DOGE futures fell to about $1.05 billion, a modest dip from the previous day, while liquidations rose to $4.55 million, most of which were long positions being forced out【2】. The long‑to‑short ratio slipped below parity, indicating that short contracts now outnumber longs. Negative funding rates further confirmed that traders are paying a premium to keep bearish bets, reinforcing the view that short‑seller pressure is the primary driver of the price drop.
Technically, DOGE is trading below its 50‑day exponential moving average, with the 100‑day and 200‑day averages also sloping downward, framing a broader bearish structure【2】. The MACD histogram has flattened near zero and the RSI remains below the midpoint, suggesting mild but persistent bearish momentum without reaching oversold territory. The price is hovering just above the $0.0879 support level; a break beneath this could expose the $0.0800 zone, which was tested in early February【2】. The CoinJournal report notes that the slide below $0.08 adds to the bearish narrative across markets【1】.
The breach of $0.08 underscores a tightening risk appetite for meme tokens, with derivatives data pointing to sustained short‑seller dominance. Whether DOGE can rebound will hinge on whether support at $0.0879 holds and if broader market risk sentiment eases.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Jun 29, 2026 · How we report
United Dogecoin Inc. is currently deploying 3,000 new mining rigs and is evaluating the development of proprietary data centers to host its own equipment alongside AI and high-performance computing applications.
Dogecoin recorded one of the steepest weekly losses among major cryptocurrencies, falling nearly 10%, while other assets like Bitcoin, Ether, and XRP also saw declines.
Price movement is influenced by macroeconomic pressures such as high interest rates, a strong US dollar, and a rotation of investor capital into the broader stock market rather than digital assets.