- Dogecoin holds just above $0.157, but declining Open Interest and long-term selling suggest fading enthusiasm among traders.
- Technical indicators like the Death Cross and weak RSI signal bearish momentum, with downside risk toward $0.14 or lower.
- Bulls need a rebound above $0.178 to confirm a recovery and invalidate the current downtrend.
Dogecoin’s been grinding sideways again, edging up just a little — about 1% higher midweek — and holding above that $0.157 line. Sure, it bounced from the morning low of $0.154, but the mood across the board still feels shaky. On-chain data? Derivatives? Both point to weak conviction among traders and long-term holders.
Fading Interest From Traders and Holders
Dogecoin’s still the king of meme coins by market cap, but its momentum’s slipping. The crowd that usually fuels its hype seems quieter these days. Futures data backs that up: Open Interest (OI) in DOGE futures has slid to $1.41 billion, its lowest point in seven months, per CoinGlass. That’s a sign retail traders are losing interest — or just tired of waiting for the next pump.
On top of that, long-term holders have started to take profits. The Spent Coin Age Band jumped from 126 million to 377 million in a day — meaning older coins, ones that hadn’t moved for months, are being sold. It’s like the patient holders finally gave in.
According to Santiment, only 56.45% of DOGE is now “in profit,” down from nearly 84% a month ago. When that number drops, weaker hands tend to bail out, leaving price exposed to more volatility.
Technicals Hint at More Downside (Unless…)
At press time, DOGE trades around $0.16, but the charts aren’t exactly friendly. The 100-day EMA just crossed below the 200-day EMA — the infamous Death Cross — while the 50-day EMA is aligned in full bearish formation. Momentum’s slipping, and if price breaks below $0.157, the next cushions are $0.1427 and $0.1298, both old lows from earlier this year.
The MACD sits below its signal line, reinforcing the bearish tone, while RSI hovers near 32, just above oversold. That usually means sellers still have control — but not by much.
To flip sentiment back, Dogecoin would need to reclaim the $0.178 level (the October 11 low). A move above that could reset the chart and attract buyers again.
