DOGE price drops as important support level approaches amid declining retail interest
June 24, 2026
il interest is occurring amidst a broader risk-off sentiment in the cryptocurrency market, especially as Bitcoin hovers around the $60,000 mark. Recent data from CoinGlass reveals a 10% decrease in DOGE futures Open Interest over the past day, now standing at $1.05 billion, suggesting a significant decrease in market positioning.
Simultaneously, the funding rate has dropped to 0.0025%, indicating a preference for short exposure among traders anticipating further declines in DOGE. Over the same 24-hour period, total futures liquidations amounted to $6.85 million, with the majority being long liquidations at $6.74 million, highlighting a prevalent selling bias among investors.
Institutional interest in DOGE-related Exchange Traded Funds (ETFs) has remained flat for the third consecutive day, underscoring a lack of enthusiasm from larger investors.
Technical Analysis: DOGE Faces Critical Price Levels
As Dogecoin continued to trade below $0.0800 on Wednesday, it remained under the influence of key moving averages, like the 50-day Exponential Moving Average (EMA) at $0.0919 and the 200-day EMA at $0.1154. Additionally, the token struggled to break above a descending trendline drawn from the May 14 and June 15 highs, sitting around $0.0850, further reinforcing the prevailing downward bias.
The Relative Strength Index (RSI) around 28, while still in oversold territory, has formed a positive divergence compared to the June 6 low near 20. Such patterns in oversold conditions often suggest the potential for a short-term bounce. However, the Moving Average Convergence Divergence (MACD) indicator, falling below its signal line, aligns more with a weak corrective movement than a significant trend reversal.
On the downside, the initial significant support level lies at $0.0776. If selling pressure intensifies, further potential downside levels to monitor include $0.0700 and $0.0641. To witness any meaningful recovery, the price must breach the descending trendline near $0.0851. Subsequently, DOGE would challenge the 50-day EMA at $0.0919, followed by a horizontal resistance area at $0.1000.
