Dogecoin price fell for the second day in a row after hitting its 50-day exponential moving average as demand decreased and key headwinds increased.
summation
- Dogecoin price has been falling over the past few months.
- Spot DOGE ETF inflows have been flat this year.
- Futures open interest continued to fall, and the funding interest rate also turned negative.
The Dogecoin (DOGE) token fell to a critical support level at $0.100, well below this month’s high of $0.1176. It remains at about 67% of the highest level in 2025.
The coin is facing significant headwinds, which could push its price down in the short term. For example, it is facing great challenges due to the ongoing cryptocurrency market crash. This affected Bitcoin and most altcoins.
Additionally, futures open interest has continued to decline over the past few months, increasing from a high of $5.2 billion in September to the current $1.16 billion. The decline in open interest is a sign that demand has continued to decline over the past few months.
More data shows that the weighted funding ratio has remained in the red over the past few days. It fell to its lowest level since February 10. A falling funding rate is a sign that investors believe the coin will continue to decline in the near term.
The same goes for the exchange traded fund (ETF) market this year. The three spot DOGE ETFs from companies such as Grayscale, 21Shares and Bitwise have seen zero inflows or outflows since February 3 of this year, according to data compiled by SoSoValue. The fund’s cumulative inflows now exceed $6.67 million, with net inflows of $8.69 million.
Dogecoin price technical analysis
According to the daily timeframe chart, DOGE price has been showing a strong downward trend over the past few months, from a high of $0.3073 in September last year.
Dogecoin price fell below the key support level at $0.1295, the lowest level reached on April 7 last year. All moving averages fell below and the Percentage Price Oscillator remained below the zero line.
Therefore, the most likely scenario is that the coin continues to fall, potentially reaching this month’s low of $0.0790. A break below that support level would indicate further downside.