Dogecoin Price Slides Below $0.18 As Traders Cut Leverage And Meme Coin Momentum Fades

Summary Dogecoin drops 7% to $0.173 after $22.27 million in daily ￰0￱ interest declines despite a 50% surge in futures trading ￰1￱ signals suggest a potential short-term relief rally near $0.17. By Parshwa Turakhiya ​Dogecoin ( DOGE-USD ) fell nearly 7% on Sunday to around $0.173, extending a week-long decline as traders exited leveraged positions and liquidity flows turned sharply ￰2￱ drop below the $0.18 support marks a key technical breakdown, reinforcing the broader risk-off tone across digital ￰3￱ selloff gathered pace after Dogecoin failed to hold the 0.236 Fibonacci retracement level at $0.1787, drawn from October’s high of $0.2712 to its low of $0.1501.

The breach confirms the continuation of the descending channel that has dominated DOGE’s structure since early ￰4￱ price dynamics () The next support lies near $0.165-0.150, a zone that previously attracted dip buyers during the last ￰5￱ 20-day EMA at $0.1953 and the 50-day EMA at $0.2109 have both crossed below the 100-day EMA at $0.2164, forming a “bearish stack” that underscores weakening ￰6￱ relative strength index has dropped to 34.69, hovering near oversold ￰7￱ this suggests potential for short-term stabilization, Dogecoin remains technically fragile. A sustained recovery above $0.18-0.185 would be needed to shift sentiment back toward neutral, with further upside capped near $0.21, where the 0.382 Fibonacci level aligns with the 50-day ￰8￱ flows show caution among traders According to Coinglass, daily spot netflows turned deeply negative at $22.27 million, marking one of the steepest single-day withdrawals in ￰9￱ trading volume rose more than 50% to $5.25 billion, but open interest fell nearly 4% to $1.67 ￰10￱ combination of rising activity and shrinking leverage points to liquidation-driven volatility rather than fresh speculative ￰11￱ activity surged over 2400% during the same period, reflecting increased hedging demand amid falling prices.

Yet, total liquidations reached $13 million in the past 24 hours, mostly from long positions. Binance’s top trader long-to-short ratio remains above 2.3, showing that whales are maintaining a mild long bias, but the broader derivatives market has turned ￰12￱ shift mirrors the cooling sentiment across meme coins and speculative altcoins following Bitcoin’s stall near $69,000. Traders have rotated toward higher-cap assets such as Solana ( SOL-USD ) and Ethereum ( ETH-USD ), leaving meme tokens vulnerable to sharper downside swings. Outlook: Oversold but still under pressure Dogecoin’s near-term direction depends on whether buyers can reclaim $0.18 as support.

A close above this level could spark a relief bounce toward $0.195 and $0.21, where the 50-day EMA and Fibonacci resistance ￰13￱ that, bears may push the token toward $0.165 or even $0.150, marking a full retracement of its October ￰14￱ its persistent popularity, Dogecoin’s fundamentals remain driven primarily by liquidity cycles and retail sentiment rather than network ￰15￱ recent divergence between rising trading volume and falling open interest underscores the speculative nature of its ￰16￱ broader market confidence improves, DOGE is likely to remain trapped in a volatile consolidation ￰17￱ the token is oversold on most technical indicators, a meaningful rebound will require renewed inflows and stabilization in the broader crypto ￰18￱ now, Dogecoin sits at a critical juncture - oversold, yet lacking conviction - as traders await clearer signals from Bitcoin and market-wide liquidity ￰19￱ material may contain third-party opinions; none of the data and information on this webpage constitutes investment advice according to our ￰20￱ we adhere to strict Editorial Integrity , this post may contain references to products from our ￰21￱ Post