Dogecoin traded below $0.085 for a fourth straight day as market attention shifted toward utility-focused tokens. The meme coin also faced weaker retail demand, fresh long liquidations, and a bearish technical setup. Traders watched the June 6 low near $0.07766 as downside Weakness grew.
Dogecoin lost momentum as broader crypto interest moved toward tokenization, privacy, and AI-themed projects. That shift reduced the retail strength that has often supported meme coins during past rallies.
CoinGlass data showed Dogecoin open interest fell 7% in 24 hours to $1.10 billion. The drop pointed to lower trader participation and a more cautious market mood.
Liquidation data also leaned against buyers. Long liquidations reached $4.81 million, while short liquidations stood at $577,030. Despite that, the funding rate stayed positive at 0.0056%, which showed that some traders still expected a rebound.
Dogecoin-focused exchange-traded funds recorded a $200,580 inflow on Wednesday. That marked the first positive flow after 10 days of zero activity.
Even so, the amount stayed small. It did little to change the wider sentiment around DOGE, especially as price action remained weak.
Whale activity added more pressure. Analyst Ali Charts reported that whale wallets distributed 420 million DOGE tokens over the previous seven days. Large sales from major holders often add to market supply and can weigh on price.
Dogecoin traded below its 50-day, 100-day, and 200-day exponential moving averages. Those levels now act as resistance and keep the short-term trend under pressure.
The 14-day Relative Strength Index sat near 35 on the daily chart. That reading showed weak demand, though it had not yet reached a clear oversold level.
At the same time, the MACD moved close to its signal line. That showed only a mild loss of bearish momentum, not a full reversal. Immediate support sat at $0.07766, followed by $0.0700 and $0.0641. On the upside, resistance stood at $0.0900, then near $0.094 and $0.0997.
Read More: Will Dogecoin Pump Hard Next? Why $0.099 Might Be a Crucial Entry Point
Dogecoin also failed to reclaim the $0.09 level after recent losses. Sellers regained control after the token slipped from that round figure, and the market has yet to show a strong recovery signal.
Dogecoin remains under pressure as weakening retail interest, falling open interest, and heavy long liquidations reinforce a bearish outlook. While ETF inflows returned after 10 days, the amount was limited. Traders should watch the $0.07766 support level closely, as a break below could open the door to deeper losses.