Dogecoin Price Stuck in Bear Market as Key Metrics Decline
- Price Decline: Dogecoin (DOGE) is currently trading at $0.09610, down 80% from its peak in November 2024, hovering near its lowest level since September 2024, indicating a significant drop in market demand.
- ETF Fund Inflows Lagging: Since February 3, Dogecoin-related ETFs, including those from Grayscale and 21Shares, have not attracted any inflows, with a total of only $252k this month and assets totaling $9 million, starkly contrasting with XRP and Solana's performance, reflecting waning investor interest in DOGE.
- Futures Open Interest Decline: Dogecoin's futures open interest has plummeted from $5.2 billion to $1 billion over the past few months, indicating a continued decline in demand from active traders, which typically signals bearish market sentiment.
- Technical Pattern Analysis: Dogecoin has formed a multi-year head-and-shoulders pattern, with the head at $0.4820 and shoulders at $0.3073 and $0.2290, while remaining below the 50-week and 100-week Exponential Moving Averages, suggesting a potential further decline with a target support level at $0.050.
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Technical Analysis for DOGE
Technical Sentiment Analysis for Dogecoin (DOGE). As of , Dogecoin (DOGE) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for DOGE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, DOGE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Dogecoin (DOGE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0729 | 0.081 | 0.0882 | 0.0963 | 0.104 | 0.112 | 0.119 |
| Fibonacci | 0.081 | 0.0869 | 0.0905 | 0.0963 | 0.102 | 0.106 | 0.112 |
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