Dogecoin (DOGE) has been weakening recently. As of press time, it was priced at $0.09017 , down 1.11% in the last 24 hours and down 3.67% over the past week. Year-to-date, Dogecoin has fallen 23.33% , and investors who have held it for a year have suffered an average loss of 53.85% .
The entire crypto market failed to provide any respite for Dogecoin. In the past 24 hours, the total amount of liquidations across the network exceeded $448 million , of which about 85% came from long positions, with nearly $398 million of long orders being liquidated.
📉 From 0.156 to 0.079, this drop was too sharp.
In early 2026, Dogecoin was actually quite stable. It had risen by 20% in December 2025, and optimism had pushed the price up to $0.1566 (the high on January 6).
However, the good times didn't last long. Starting in January, selling pressure intensified, and by February, Dogecoin had plummeted to a multi-year low of $0.0799 . Although there were slight rebounds afterward, it never managed to stage a significant recovery.
🌍 Macroeconomic pressures persist, and funds continue to withdraw.
This downturn isn't just a problem for Dogecoin alone; rising US Treasury yields and a stronger dollar are also contributing factors. These macroeconomic headwinds are unfavorable for risk assets, with cryptocurrencies and crypto-related stocks bearing the brunt.
The liquidation data also reveals a clue: of the total liquidation amount of $448 million, long positions accounted for $398 million . This indicates that bullish traders are still excessively concentrated, and any slight market fluctuation can easily wipe them out.
CoinGlass data shows that Dogecoin has been declining across multiple timeframes, with almost no signs of a sustained rebound in short-term indicators. Funds continue to flow out of high-risk assets, and market sentiment remains cautious.
🛡️ Dogecoin at $0.08: A key support level, and also a "historical defense line"
Historically, the $0.07–$0.08 range has been crucial: it provided support in January 2024 and halted the decline again in August 2024, after which Dogecoin rebounded strongly, reaching $0.48 by November, an increase of about 500% from its low.
In February of this year, Dogecoin tested this area again after falling to $0.0799 .
The question now is: will buyers defend this level again? If it falls below $0.08 , the next key support level is around $0.07 , where existing holders' losses will widen further. If it holds above $0.08 , the historical rebound pattern could still repeat itself.
✅ Summary
Dogecoin is currently at a critical juncture: it has fallen more than 23% year-to-date, bullish momentum is clearly insufficient, the macro environment is tight, and funds are still withdrawing from high-risk assets. $0.08 is a key support level confirmed by both technical analysis and historical price action.
The next step is to see if the bulls can mount an effective defense at this level. If they hold, there's still room for further development; if they fail, the downside potential will widen further.
