•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Dogecoin extended its decline on Thursday, trading below the $0.0850 level for a fourth consecutive session. The meme coin has also failed to regain the $0.09 area as investor enthusiasm fades.
Broader interest in cryptocurrencies has increasingly shifted toward tokens with clearer utility narratives, including real-world asset tokenization, privacy-focused solutions, and artificial intelligence-related applications. Market participants say this rotation has reduced momentum for Dogecoin.
Futures market data from CoinGlass shows DOGE’s Open Interest fell by 7% over the last 24 hours, settling at $1.10 billion. The contraction points to reduced trader participation.
Liquidation data also highlights pressure on bullish positions. Over the same timeframe, long traders faced $4.81 million in forced closures, compared with $577,030 in short liquidations. The imbalance suggests optimistic positions have been hit more severely than bearish ones.
Even with the bearish price action, the funding rate remains positive at 0.0056%, indicating that part of the market still expects upside. However, that expectation has not translated into price strength.
Cryptocurrency analyst Ali Charts reported that whale wallets distributed 420 million DOGE tokens over the previous seven days. Large holder selling at that scale can add additional selling pressure.
On the investment-vehicle front, Dogecoin ETFs recorded a $200,580 capital inflow on Wednesday. The inflow ended a 10-day stretch of zero activity, but the amount was described as small and unlikely to materially shift broader sentiment.
Technically, DOGE is trading below its 50-, 100-, and 200-day Exponential Moving Averages, with each level acting as resistance. The 14-day Relative Strength Index is around 35, reflecting subdued buying interest, though it has not yet reached oversold territory.
The MACD indicator is nearing its signal line, suggesting mild bearish momentum within the prevailing downtrend structure.
Analyst Emilio Crypto Bojan said DOGE is approaching a golden cross formation on the 4-hour timeframe, where the 50-period moving average nears a bullish crossover above the 200-period moving average. If confirmed, Bojan flagged potential resistance levels at $0.18, $0.29, $0.45, $0.58, and $0.70. He also noted that moving average crossovers are lagging indicators and do not guarantee follow-through.
Analyst Javon Marks identified a repeating “step ladder” formation on weekly charts, arguing DOGE is consolidating in a way that preceded major rallies in 2017 and 2021. In that framework, the pattern points to a potential 30X move from current levels to $2.80+.
Marks’ analysis references two prior cycles that produced 9,400% and 30,600% gains before encountering major resistance zones.
Near-term support is cited at the June 6 low of $0.07766, with additional floors at $0.0700 and $0.0641. Resistance barriers include $0.09, the 50-day EMA around $0.094, and the 100-day EMA near $0.0997.
Overall, current conditions show DOGE Open Interest at $1.10 billion after a 7% daily decline, while long liquidations continue to outpace short closures.
Ready Card users outside the European Economic Area have reportedly faced an abrupt service halt after a transition involving the card issuer disrupted the USDC spending product, according to user notices shared on X.
A notice shared…
