{"id":610751,"date":"2026-06-23T23:00:00","date_gmt":"2026-06-24T03:00:00","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=610751"},"modified":"2026-06-23T09:44:00","modified_gmt":"2026-06-23T13:44:00","slug":"analyzing-dogecoins-drop-below-0-08-what-happens-next","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/analyzing-dogecoins-drop-below-0-08-what-happens-next\/","title":{"rendered":"Analyzing Dogecoin’s drop below $0.08: What happens next?"},"content":{"rendered":"

Dogecoin extended its bearish streak, breaching the $0.08 support level. In doing so, the memecoin dropped to a low of $0.079 for the first time in nearly three weeks.<\/span><\/p>\n

As of this writing, Dogecoin traded at $0.07907, down 5.54% on the daily charts. With the recent price drop, the memecoin fell below the 9- and 21-day moving averages, validating this bearish structure.\u00a0<\/span><\/p>\n

Dogecoin rising liquidation sparks panic selling<\/h2>\n

After Dogecoin [DOGE] dropped below $0.08, it sparked massive liquidations for leveraged positions.\u00a0<\/span><\/p>\n

According to CoinGlass data, $7.68 million worth of long positions were liquidated. Such high levels of liquidations showed that traders were bullish and expected the price levels to hold.\u00a0<\/span><\/p>\n

\"Liquidation<\/a>
Source: CoinGlass<\/figcaption><\/figure>\n

In addition to the forced exit, the price dip and liquidation caused fear, prompting traders to panic and close their positions.\u00a0<\/span><\/p>\n

Looking at the perpetuals, the Sell Volume surged to 1.3 billion while the Buy Volume dropped to 1.1 billion.\u00a0<\/span><\/p>\n

\"Dogecoin<\/a>
Source: Coinalyze<\/figcaption><\/figure>\n

At the same time, the Net buying also remained negative, dropping to\u00a0 -1.1 billion. With sellers outpacing buyers, it suggests more perps positions closed.\u00a0<\/span><\/p>\n

The same market behavior was observed on the futures side. Over the past 24 hours, $460 million flowed out of futures compared to $413 million in Inflows.\u00a0<\/span><\/p>\n

\"Dogecoin<\/a>
Source: CoinGlass<\/figcaption><\/figure>\n

As a result, the memecoin\u2019s Futures Netflow dropped 459% to -$46 million, a clear sign of aggressive futures selling. <\/span><\/p>\n

Is DOGE at risk of further losses?<\/h2>\n

Dogecoin is experiencing strong bearish pressure, largely driven by the weakness in the Derivatives market. Examining the memecoin’s Relative Strength Index (RSI), this momentum indicator dropped into the oversold area.<\/p>\n

At 28, the RSI shows that bears have total control of the market. Often, such a market setup has preceded extended market weakness.<\/p>\n

\"Dogecoin<\/a>
Source: TradingView<\/figcaption><\/figure>\n

Therefore, if selling activity in the derivatives market continues, Dogecoin is likely to incur further losses and drop towards $0.075.<\/p>\n

However, activity in the spot market remains markedly different. Looking at the Spot activity, it seems traders continue to buy the dip.<\/p>\n

In fact, the memecoin’s Spot Netflow dropped to -$7.7 million, suggesting higher outflow. The decline in NetFlow suggests that holders lack the incentive to sell.<\/p>\n

\"Dogecoin<\/a>
Source: Coinglass<\/figcaption><\/figure>\n

Thus, with sellers totally exhausted on the spot, even a small buying activity is enough to spark such a shift. Often, such market conditions have worked extremely well for the market and preceded recovery.<\/p>\n

Therefore, if the market conditions position DOGE to recover. First, the memecoin must reclaim $0.08 and close above $0.085 in the short term.<\/p>\n

\n

Final Summary<\/strong><\/h2>\n
    \n
  • Dogecoin [DOGE] dropped 5%, breached $0.08 support, and dropped to a three-week low of $0.079 as traders panicked and exited.\u00a0<\/em><\/li>\n
  • DOGE sellers on the spot have been exhausted, with no incentive to sell, leaving the market a chance to recover.\u00a0<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    Dogecoin [DOGE] dropped 5%, breached $0.08 support, and dropped to a three-week low of $0.079. <\/p>\n","protected":false},"author":94,"featured_media":610793,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[6387,5824,66,4,20],"tags":[6427],"class_list":["post-610751","post","type-post","status-publish","format-standard","has-post-thumbnail","category-dogecoin-news","category-memecoins","category-new-news","category-social","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"\nAnalyzing Dogecoin's drop below $0.08: What happens next? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Dogecoin [DOGE] dropped 5%, breached $0.08 support, and dropped to a three-week low of $0.079 as traders panicked and exited.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/analyzing-dogecoins-drop-below-0-08-what-happens-next\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Analyzing Dogecoin's drop below $0.08: What happens next? 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