According to latest reports, Dogecoin has extended its decline, falling 9% from $0.0891 to $0.0830, breaking the ascending channel that had guided price action since February. The cryptocurrency moved between a 24-hour low of $0.0830 and a high of $0.0891, keeping price action close to the lower end of the daily range. The move represents a continuation of the 25.25% drop across the past month, with the token now trading below the $0.10 to $0.12 area that had acted as an important range earlier in the month. The breakdown below channel support is considered the more important development than the percentage decline itself, as the ascending structure had held for four months.
Analyst Ali Charts from crypto.news reported that Dogecoin reached his $0.0883 target and is now testing the lower boundary of a descending channel. As reported by Ali Charts, "As long as this support holds, I think a recovery toward $0.1019 and $0.1156 remains likely." However, the latest breakdown below channel support shifts attention toward lower support levels near $0.067. The technical indicators show weak momentum with the RSI at 21.72 and moving average near 37.25, placing DOGE in oversold territory. The MACD remains bearish with the line at -0.00404 below the signal line at -0.00224. For traders, the key level to watch is $0.0819, with a clean break below it strengthening the case for a move toward $0.067.
According to Coinglass data, futures volume declined 7.89% to $2.08 billion, while open interest fell 4.85% to $1.04 billion, suggesting traders reduced exposure as DOGE moved lower. Lower open interest during a selloff can indicate liquidation pressure or reduced leveraged positions. In contrast, options activity moved in the opposite direction with options volume rising 171.59% and open interest increasing 42.23% to $600,650, showing some traders are using options while spot and futures markets remain under pressure. The latest data shows both tokens saw their biggest volume spikes during breakdowns rather than recoveries, a sign sellers remained in control throughout the session.
Dogecoin remains far below its all-time high of $0.731578, set on May 8, 2021, with its market capitalization at $13.34 billion and circulating supply at 154.52 billion DOGE. The token still ranks at number 11 by market value. Despite the selloff, both tokens continue to show conflicting signals underneath the surface, with DOGE and SHIB seeing sizeable exchange outflows that would normally be associated with accumulation. However, exchange outflows failed to support price, indicating traders are paying more attention to macro conditions and momentum than longer-term accumulation signals. The analysis suggests that until buyers start reclaiming broken support rather than merely bouncing from oversold conditions, the path of least resistance remains lower, with recovery attempts facing immediate resistance at $0.0883 for DOGE and $0.000004780 for SHIB, both former support levels that have now turned into overhead supply.
