Dogecoin (DOGE) has fallen more than 40% since September 22 and dropped out of the top 10 cryptocurrencies by market capitalization, with the $0.059–$0.060 range becoming key support.

At the time of reporting, DOGE was trading around $0.063. Sluggish ETF activity and the risk of leveraged long-position liquidations are factors to watch as the price approaches support.

KEY CONTENT

• DOGE's market capitalization is around $9.88 billion after its price fell more than 12% in seven days.

• The CMF indicator fell from 0.20 to 0.01, while daily trading volume weakened.

• Large liquidation clusters for long positions appeared around $0.061 and $0.03.

Dogecoin price levels to watch

DOGE is trading within a descending trend channel, with the $0.059–$0.060 area serving as nearby support. If this area holds, the price could recover to around $0.074; if it breaks, the $0.04 area could be where buying pressure returns.

Indicator or price level Value Significance DOGE price at the time of writing $0.063 Down more than 12% in seven days Market capitalization Around $9.88 billion DOGE has fallen out of the top 10 cryptocurrencies by market cap Nearby support area $0.059–$0.060 Price area to watch within the descending channel Potential recovery target Around $0.074 Midpoint of the trading range if support holds Lower potential buying area $0.04 Area that could be tested if nearby support breaks

DOGE's daily trading volume also fell sharply. On Binance's spot market, average net volume skewed toward sellers, with 265.5 million DOGE traded against USDT.

The Chaikin Money Flow (CMF) indicator fell from 0.20 to 0.01. Although it remains above the neutral level, the sharp decline reflects weakening money flows.

Source: DOGE/USDT on TradingView

The chart's sloping trend support line extends from $0.0885 to $0.0566. Buyers had previously defended this line even as selling pressure increased sharply.

Dogecoin ETFs remain quiet for a month

The two Dogecoin ETF products operating in the U.S. recorded no fund flows for a month. The most recent activity was on October 13, with net outflows of $138,570.

Dogecoin ETF metric Data Number of products operating in the U.S. 2 Most recent fund flow activity October 13: net outflows of $138,570 Cumulative net flows over one year $15 million

Source: SoSoValue

DOGE long positions face liquidation risk

DOGE long positions on Hyperliquid have an average entry price of $0.0842, above the recorded price, and are currently at a loss. Large liquidation clusters around $0.061 and $0.03 could add to selling pressure if the price continues to fall.

Price level Role $0.0842 Average entry price for long positions on Hyperliquid; also a resistance area $0.061 and $0.03 Areas with large liquidation clusters for long positions

If DOGE reclaims $0.0842, this price area could turn from resistance into support. Meanwhile, the ability to hold the $0.060 area and absorb selling from leveraged positions will be worth watching at the nearer price level.

Source: Alphractal

Summary

Dogecoin is approaching the $0.059–$0.060 support area after a sharp decline. Price action in this area, along with ETF activity and the risk of long-position liquidations, are factors related to pressure on DOGE's price.

Source: https://tintucbitcoin.com/dogecoin-giam-40-duoi-ap-luc-lieu-con-giam-sau-hon/

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