Dogecoin tests $0.10 as risks build

Dogecoin has slipped to the key $0.100 support level after failing to hold above its 50-day exponential moving average, extending a multi-month downtrend.

The token is now roughly 67% below its 2025 high and has retreated sharply from last September’s peak of $0.3073 amid broader weakness across the crypto market.

Futures open interest has declined from $5.20 billion in September to about $1.16 billion, while the weighted funding rate has turned negative, signalling rising bearish positioning.

A sustained negative funding rate typically reflects expectations of further downside, as traders increasingly pay to hold short positions in anticipation of continued losses.

In the exchange-traded fund market, spot DOGE products from firms including Grayscale, 21Shares and Bitwise have recorded no inflows or outflows since February 3, with cumulative inflows standing at $6.67 million and net inflows at $8.69 million.

Technically, Dogecoin has fallen below the key $0.1295 support level and remains under all major moving averages, while the Percentage Price Oscillator stays below the zero line, reinforcing bearish momentum.

If the $0.100 level fails to hold, the next downside target sits near the year-to-date low of $0.0790, with a break below that zone likely to open the door to steeper declines.

At the time of reporting, Dogecoin price was $0.1008.