Key Takeaways
- DOGE trades beneath $0.0850 for the fourth day running, positioned below key 50-, 100-, and 200-day EMAs
- After 10 consecutive sessions of zero activity, DOGE ETFs saw a modest $200,580 inflow on Wednesday
- Open Interest contracted 7% over 24 hours to reach $1.10 billion, while long liquidations totaled $4.81 million
- Market analyst Ali Charts reported that whales offloaded 420 million DOGE tokens during the past week
- Technical observers identify a possible golden cross formation on shorter timeframes and a multi-year pattern suggesting targets beyond $2.80
Dogecoin continues its descent on Thursday, exchanging hands beneath the $0.0850 mark for the fourth session in succession. The popular meme cryptocurrency has surrendered the $0.09 threshold and maintains its downward trajectory as retail enthusiasm wanes.
Market participants have increasingly shifted their attention toward cryptocurrencies offering tangible utility, particularly projects focused on tokenization, privacy protocols, and artificial intelligence applications. This sector rotation seems to be diverting capital flows away from Dogecoin.
Data from CoinGlass reveals that DOGE’s Open Interest contracted by 7% during the previous 24-hour period, settling at $1.10 billion. This decline indicates reduced participation from active market participants opening new positions.
Liquidation metrics paint a complementary picture. Forced closures of long positions reached $4.81 million during this timeframe, while short liquidations registered merely $577,030. This substantial disparity demonstrates that bullish traders are experiencing significantly higher losses.
The funding rate maintains a positive reading at 0.0056%, suggesting some market participants retain expectations for upward price movement. However, this sentiment hasn’t materialized into meaningful price appreciation.
Large Holder Selling Intensifies Downward Momentum
Market analyst Ali Charts shared via X platform that whale addresses have distributed 420 million DOGE tokens throughout the previous seven-day period. When major holders execute sales or transfers of this magnitude, it typically exerts additional downward force on valuations.
420 million Dogecoin $DOGE have been distributed by whales in the last seven days. pic.twitter.com/eoGactp8yF
— Ali Charts (@alicharts) June 18, 2026
Regarding exchange-traded products, Dogecoin-tracking funds registered a $200,580 inflow on Wednesday. While this development ended a 10-session streak of zero net flows, the relatively modest figure appears insufficient to meaningfully influence broader market sentiment.
From a technical perspective, DOGE remains positioned beneath its 50-, 100-, and 200-day Exponential Moving Averages, each serving as potential resistance barriers above current levels. The 14-day RSI hovers around 35, indicating subdued buying pressure while remaining above traditionally oversold thresholds.
The MACD indicator approaches its signal line, suggesting mild bearish momentum persisting within the prevailing downtrend structure.
Technical Analysts Identify Potential Bullish Catalysts
Despite prevailing weakness, some technical indicators suggest possible reversal scenarios. Analyst Emilio Crypto Bojan notes DOGE approaches a golden cross formation on the 4-hour timeframe, where the 50-period moving average nears an upward crossing of the 200-period moving average.
Should this pattern confirm, Bojan’s analysis suggests potential resistance levels at $0.18, $0.29, $0.45, $0.58, and $0.70. It’s worth noting that moving average crossovers inherently lag price movements and don’t guarantee subsequent performance.
Meanwhile, analyst Javon Marks drew attention to DOGE’s repeating “step ladder” formation visible on weekly charts. He contends the cryptocurrency currently occupies a consolidation phase resembling accumulation periods that preceded substantial price surges during 2017 and 2021.
The $DOGE Step Ladder:
History points towards a 30X to $2.80+, minimum…
(Dogecoin) pic.twitter.com/JLiP3YudAn
— JAVON⚡️MARKS (@JavonTM1) June 16, 2026
Marks forecasts an approximate 3,058% advance from present valuations, potentially driving DOGE above the $2.80 level. His technical analysis references two previous cycles that generated returns of 9,400% and 30,600% before encountering major resistance zones.
Near-term support exists at the June 6 bottom of $0.07766, with additional floors at $0.0700 and $0.0641. Overhead resistance materializes at $0.09, followed by the 50-day EMA near $0.094, and the 100-day EMA around $0.0997.
Current market data shows DOGE’s Open Interest positioned at $1.10 billion after experiencing a 7% decline across the previous 24 hours, with long position liquidations maintaining their dominance over short closures.
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