Dogecoin News Update: DOGE Breaks Short-Term Structure as Derivatives Metrics Signal Bearish Repositioning

Dogecoin (DOGE) has shifted into a weaker short-term technical structure after failing to defend a key intraday support at $0.1320. The move appears to be driven by position adjustments rather than liquidation, suggesting controlled bearish pressure rather than panic selling.

Price Action and Market Structure

Over the last day, DOGE lost about 1.7%, lower from its intraday high at $0.133-$0.134, and is now trading near $0.132. The rejection at $0.135 was a clear lower high on the intraday timeframes, reinforcing a loss of bullish momentum from last week.

The breakdown below $0.1320 gave a decisive signal for the bearish bias; this level had previously acted as a short-term demand area.

As soon as the price slipped below $0.1320, the orders on the buying side quickly diminished and DOGE moved toward the lower boundary of its recent price range.

This breakout aligned with the price falling below the lower boundary of a short-term ascending channel, thus invalidating the recovery structure.

Volume Expansion Confirms Distribution

The rejection from resistance led to trading volume going up to 721 million DOGE, which is 150% above the 24-hour average.

This volume expansion during a downside move is significant, as it indicates that there were traders who wanted to sell rather than an illiquid price drift. The sellers were present and decisive, absorbing buyers as the prices attempted to stabilize.

Open Interest and Long/Short Positioning

Open interest (OI) fell to 1.24% or $1.58 billion as volume increased. This divergence implies position closure and leverage reduction, not fresh leveraged shorts. After the failed breakout, traders seem to be decreasing their exposure.

This OI reduction decreases the odds of a prompt squeeze (on either side) and suggests consolidation.

The total 24h Long/Short ratio stands at 0.95, reflecting a slight short bias at the market level. Data from exchanges indicate certain areas where longs are dominant; however, the total ratio below 1.0 shows that the equilibrium is moving towards shorts.

The OI-weighted funding rate is still positive at 0.0068%. A positive yet diminishing funding rate implies that longs are still paying, but the premium is shrinking, which points to a decline in the bullish sentiment.

Also Read: DOGE Price Faces Resistance at $0.14 Despite Whale Accumulation

Key Levels and Outlook

With $0.1320 now turned into resistance, DOGE faces overhead supply on rebound. The following significant support area is around $0.1280-$0.1290, which was the previous consolidation zone. If price breaks below this, it will expose DOGE to higher retracement risk.

Reversal of the existing bearish sentiment would require the price to recover $0.1320 and then decisively break $0.1350 with growing open interest and stabilizing funding.