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Dogecoin (DOGE) has continued its bearish trend, plummeting by 10.48% recently to its lowest point of $0.088. Dogecoin has been under immense selling pressure, which has led to its downward trend, with lower lows being registered for three consecutive sessions.
Dogecoin has been rejected at its resistance point of $0.106 and has fallen below its short-term EMA20 at $0.098, which shows that its bearish trend is gaining strength. Dogecoin is currently priced at $0.089.
A sharp fall in Dogecoin’s on-chain transactions has been a major reason behind its bearish trend. According to data from Santiment, Daily Active Addresses (DAA) for Dogecoin fell by 78.34% year over year, dropping from 87.7k to 28k in February 2026.
This shows that a large number of investors are leaving the market, which is reflected by Dogecoin’s bearish trend. Its Price DAA Divergence fell to its lowest point of -46% in two months. A sharp fall in Dogecoin’s on-chain transactions shows that it is lacking adoption, which is crucial for its price to move upwards.
The overall market sell-off has caused an increase in selling pressure on Dogecoin, with futures market data showing an increase in the number of outflows. Dogecoin experienced $736 million in outflows compared to $659 million in inflows, leading to a 418% increase in the overall Futures Netflow, which now stands at -$77.39 million. This shows that there is an increase in the number of people selling their Dogecoin due to the fear of losing their money.
In addition, there has been an increase in the overall liquidation rate, with $6.5 million in long positions being liquidated, including $3.3 million in the last few hours alone. Dogecoin has also experienced an increase in the number of people selling their coins on the spot market, with 976.75 million in sell volume compared to 928 million in buy volume, leading to a negative Buy Delta of -48 million.
Dogecoin is currently experiencing a lot of selling pressure due to the weakening of its fundamentals, including a lack of on-chain transactions and an increase in the overall market sell-off. Dogecoin’s negative DMI index has also jumped to 54, while the positive DMI index has fallen to 28.
Therefore, if the overall market sell-off continues, Dogecoin may fall to the $0.080 mark. However, if there is a potential change in the overall trend, Dogecoin will need to break through its short-term moving averages, including the 20- and 50-EMAs, and rise to the $0.1 mark.
