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Dogecoin price currently trades below $0.0900 as selling pressure pushed the meme coin back toward an important support zone at $0.0879. The move came during a wider pullback in crypto markets as traders cut risk exposure. Derivatives data and chart indicators also showed a weaker short-term setup, leaving DOGE at a level that could decide its next move.
Dogecoin traded in the red at press time and hovered below the $0.0900 mark as weakness spread across the digital asset market. Meme coins and other high-volatility tokens faced added pressure as traders reacted to a risk-off mood across global markets. DOGE moved in step with this trend and posted a steeper drop than some larger cryptocurrencies.
The token fell about 4.1% to $0.0893 on Thursday and has lost more than 6% from its weekly high. Its market capitalization stood at $13.84 billion, while daily trading volume reached about $1.16 billion.
The decline came alongside losses in Bitcoin and other major tokens, pointing to a broader market reaction rather than a Dogecoin-only event. Market caution grew after Donald Trump said the Iran war could last until late April.
This comment pushed oil prices above $100 and added pressure across equities and crypto assets. Since Dogecoin often reacts more sharply in periods of market stress, the token saw a deeper move lower as traders pulled back from speculative positions.
Dogecoin derivatives data pointed to a bearish trading environment. CoinGlass data showed DOGE futures open interest at $1.07 billion, down 0.81% in the last 24 hours. This drop suggested lower notional exposure in open positions and showed that traders were reducing activity as downside pressure increased.
Liquidation figures added to the picture. Total liquidations reached $3.91 million over the same period, and $3.51 million of this came from long positions.
The imbalance showed that bullish traders took the larger hit during the latest move, while sellers held the upper hand in the market.
A separate on-chain development added another layer to trading activity. Whale Alert reported that 900 million DOGE left Bithumb in three transfers over less than 30 minutes, with a combined value of about $83 million. Moves of this size can reduce the amount of DOGE available for immediate selling on exchanges. Still, blockchain data alone does not confirm whether the transfers were tied to accumulation, internal wallet activity, or a custody shift.
Dogecoin traded below its falling 50-day Exponential Moving Average, which stood near $0.0974. The 100-day EMA at about $0.1107 formed another resistance level above the current price. The wider structure also stayed weak, with the 50-day, 100-day, and 200-day EMAs all above DOGE.
Momentum indicators showed little strength from buyers. The MACD line edged below the signal line near the zero mark, while the histogram flattened. This pattern pointed to soft downside pressure instead of a sharp selloff, but it also showed that buyers had not taken back control.
The Relative Strength Index stood near 43 and stayed below the midpoint. The reading kept the short-term tone slightly bearish without pushing the token into oversold territory.
Price action now focuses on the $0.0879 support level, which aligns with the February 11 low. A daily close below this zone could open the way toward $0.0800, the February 6 low. If selling intensifies beyond this point, DOGE could retest the January 8, 2024, low at $0.0741.
