- DOGE remains in a prolonged downtrend and is now pressing into the lower boundary of a descending channel
- Elon Musk revived the “DOGE on the moon” narrative, but price reaction has been muted compared to past cycles
- xAI’s crypto hiring and the SpaceX-xAI merger add a longer-term AI + blockchain angle, though impact on DOGE is still uncertain
As of February 7, 2026, DOGE was trading around $0.09608, down a small 0.15% over the past 24 hours. The bigger story, though, is the trend behind it. Trading volume came in at roughly $1.79 billion, but that figure was down about 55% from the day before, which usually signals fading excitement and traders stepping back. Over the last week, DOGE has dropped roughly 10.6%, extending a bearish stretch that has honestly felt never-ending.
So yes, the price is “stable” on the day. But the structure is still heavy.
DOGE Is Trading Inside a Descending Channel
According to crypto analyst Jonathan Carter, Dogecoin is forming a clean descending channel on the 3-day chart. That’s basically the textbook downtrend pattern: lower highs, lower lows, and price grinding downward inside a tight range.
Carter pointed out that DOGE is now pressing into the lower boundary of this channel, which is a zone that has historically attracted buyers. In other words, this is where the market has tended to attempt rebounds in the past, even if those rebounds didn’t always last.
If this support zone holds, Carter suggests DOGE could bounce toward the $0.37 to $0.47 region, which sits up near prior resistance levels. That’s a big move from current prices, and it would likely require a major shift in risk appetite across crypto, not just DOGE doing its own thing.
The 50-period moving average remains above current prices too, which keeps the short-term outlook cautious. DOGE is still trading under its trend pressure, and it hasn’t done anything yet that screams “trend reversal.” But volume clusters near support could still create a temporary pop if buyers decide to defend this area.
Elon Musk Reignites the Dogecoin Moon Narrative (Again)
On the headline side, Elon Musk brought Dogecoin back into the spotlight this week, suggesting SpaceX could put the cryptocurrency “maybe next year” on the moon. It’s a callback to his 2021-era DOGE hype, and it immediately got people talking again.
But here’s the thing. Even with Musk’s comment, DOGE didn’t really move much. The token stayed around the $0.11 area and is still down roughly 60% over the past year. That’s a pretty loud reminder that Musk’s influence on Dogecoin price isn’t what it used to be. Back in the last cycle, a single tweet could send DOGE flying. Now? The market kind of shrugs.
Still, the corporate ties haven’t disappeared. The DOGE-1 mission, which is fully funded in Dogecoin, is still scheduled to launch aboard a Falcon 9 rocket. That’s one of the few “real-world” moments DOGE can point to where it isn’t just memes and vibes.
xAI’s Crypto Hiring Adds a New Angle
At the same time, Musk’s AI company xAI has reportedly been recruiting a crypto specialist, someone who can train AI systems on digital asset markets. That job posting is interesting because it shows where Musk’s ecosystem is leaning: not just meme culture, but data, trading infrastructure, and market intelligence.
The role is said to focus on producing training data around trading strategies, DeFi protocol analysis, and risk management. Candidates are expected to know tools like Dune Analytics, Glassnode, Nansen, and DefiLlama. Pay is reportedly listed between $45 and $100 per hour, which is pretty competitive for a niche research role.
And then there’s the bigger headline: the February merger between SpaceX and xAI, valued at an estimated $1.25 trillion, combining AI infrastructure with SpaceX’s Starlink network. Industry voices, including CoinDCX’s Sumit Gupta, have suggested this could put Musk’s ventures closer to the center of future AI + blockchain integration.
Whether that benefits DOGE directly is still unclear. But it does keep Dogecoin’s name floating around the Musk ecosystem, which is basically the narrative fuel DOGE has always relied on.
What This Means for DOGE Now
Dogecoin is still in a downtrend, and the chart structure hasn’t flipped bullish. But it is sitting near the lower boundary of a descending channel, which is typically where rebound attempts start forming. If the support holds, a relief rally is possible. If it breaks, DOGE could drift even lower, and volume declining suggests fewer traders are eager to catch the knife right now.
The moon talk is fun, sure. But the market is treating DOGE like a risk asset again, not a cultural event.
