The Dogecoin price is on track to decline for the third month in a row and has now reached its lowest level since November last year as demand weakens.
Summary
- The Dogecoin price has fallen below the neckline of the head and shoulders pattern.
- Trend indicators indicate that further disadvantages can be expected in the short term.
- DOGE ETF inflows have dried up this month as demand declines.
Dogecoin (DOGE) token fell to a low of $0.1232, a 74% decline from its 2025 high. This crash has made it one of the worst performing coins in the top 20.
Third-party data shows that demand for Dogecoin has largely declined in recent months. One of these figures is the performance of the Grayscale and Bitwise DOGE ETFs.
SoSoValue facts reveals that the two funds have only accumulated $2 million in inflows since their approval in November. The funds now hold just $5 million in assets, far less than other altcoin ETFs. It is also a small percentage compared to the large market cap of over $20 billion.
More data shows that there is little demand for Dogecoin. The weighted funding rate has turned red in recent days, while open interest on futures has fallen from a year-to-date high of $5.2 billion to the current $1.48 billion.
Dogecoin’s open interest has fallen since October 10, when tokens worth more than $364 million were liquidated. Also, futures market volume has fallen from a peak of $60 billion in November to $2.85 billion today.
Dogecoin’s ongoing price crash also coincides with that of other meme coins. Tokens like Shiba Inu, Official Trump, Dogelon Mars, and Dogwifhat are all down more than 60% from their peaks this year.
Dogecoin price technical analysis
The weekly chart indicates that DOGE price has been on a pronounced downward trend in recent months. A closer look shows that it has formed a head-and-shoulders pattern. His head is at $0.4855, while the right shoulder is at $0.307333.
The token has now fallen below support at $0.1295, the neckline of this pattern. It also remains below all moving averages and the key S/R pivot of the Murrey Math Lines tool at $0.195333.
Therefore, the token is likely to continue falling as sellers target the psychological level of $0.10. A move below that level will signal further downturn over time.
Dogecoin is down more than 60% this year.
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