Dogecoin (DOGE) has fallen for two straight days, slipping to the key support level of $0.100. The drop came after the token failed to break above its 50-day Exponential Moving Average, a sign that buying pressure remains weak.
The meme coin is now down about 67% from its 2025 high of $0.3073. Earlier this month, DOGE reached $0.1176, but it has since moved lower as the broader crypto market struggles.
The wider market downturn has also weighed on sentiment. Bitcoin (BTC) and several major altcoins have posted losses in recent weeks. As a result, risk appetite has fallen across the sector.
Data shows that futures open interest has dropped sharply, falling from $5.20 billion in September to $1.16 billion today. Lower open interest usually signals reduced trader participation and weaker demand.
The weighted funding rate has also turned negative, hitting its lowest level since February 10. A negative funding rate means more traders are betting on further price declines in the near term.
Meanwhile, spot Dogecoin ETFs managed by Grayscale, 21Shares, and Bitwise have seen no new inflows or outflows since February 3. Total cumulative inflows stand at just $8.69 million, showing limited institutional interest.
Technical indicators point to continued weakness. DOGE trades below all major moving averages, and momentum indicators remain in negative territory. Analysts say the next key level to watch is $0.0790, the year-to-date low. A break below that support could open the door to deeper losses.
