Dogecoin sits on a support zone near $0.059 after falling out of the top 10 cryptocurrencies. Sellers still control the trend, and a break of this level could open the way toward $0.04. A hold would put resistance near $0.069 in focus.
Dogecoin now trades near $0.059, right inside the zone flagged as key support. The chart suggests the memecoin could lose more ground if buyers fail to defend it.
Dogecoin loses its top 10 spot
Dogecoin has lost more than 40% since Sept 22, which pushed it out of the top 10 cryptocurrencies by market value. Its market cap now sits near $9.88 billion.
Demand has faded on several fronts. On Binance, net volume tilted toward sellers by about 265.5 million DOGE. Meanwhile, the two US Dogecoin ETFs have recorded no activity for a month, according to SoSoValue data.
Leveraged traders feel the strain as well. Long positions on Hyperliquid carry an average entry near $0.0842, and Alphractal data shows large clusters of long liquidations at $0.061 and $0.03.
Price trades below both long averages
The 50-day moving average sits near $0.076, so that level now acts as a ceiling rather than a floor. The 200-day average stands around $0.088, far above the current price.
Recent losses show the pace of the decline. DOGE fell about 17% over the past week, and the drop over the past month reaches roughly 28%. The coin did gain about 3% in the last 24 hours, but the bounce reads as a breather inside a falling channel.
Oversold readings meet a firm downtrend
The daily RSI sits at 24, and any reading below 30 counts as oversold. Even so, the MACD remains below its signal line, so momentum is still pointing down.
The daily chart shows no support line below the current price. If the current zone gives way, the next buyer zone sits near $0.04.
On the upside, resistance stands near $0.069. A daily close above it would open the way toward $0.075.
Source: Crypto Daily™
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