Dogecoin traded below $0.09 on Thursday as risk appetite weakened across the market. The source said broader unease shaped sentiment, while renewed geopolitical concerns lifted oil prices and reduced demand for risk-driven assets. Retail participation also softened, adding pressure to DOGE.
Traders appeared to shift capital with caution. Expectations that geopolitical tension could last longer pushed positioning toward safer assets and trimmed exposure to speculative tokens such as Dogecoin, leaving near-term sentiment under pressure.
Open Interest Drops While Bearish Positions Gain Ground
Derivatives data pointed to stronger downside expectations. Dogecoin open interest declined to $1.05 billion, a slight daily drop, while total liquidations reached $4.55 million. Long liquidations made up most of that figure, reinforcing selling pressure in the process.
The long-to-short ratio also moved below 1, showing that short positions now outweigh longs in active trades. At the same time, the funding rate stayed negative, indicating traders were still paying to maintain bearish exposure. Taken together, those readings showed that defensive positioning remained dominant in the derivatives market.
Technical Setup Stays Soft Above Key Support
Chart signals matched the cautious tone. DOGE continued to trade below its 50-day EMA, and that moving average kept sloping lower. The 100-day and 200-day averages supported the broader bearish structure already in place.
The MACD histogram flattened near the zero line, suggesting downside momentum was limited rather than accelerating. RSI remained below the midpoint, which pointed to mild bearish momentum without moving into oversold territory. That left room for price to keep moving either way.
$0.0879 Support in Focus as Resistance Caps Recovery
Price action hovered just above the $0.0879 support area, a level traders were watching closely. A confirmed move below that zone could open the way toward $0.0800, which was tested in early February. If weakness extends, $0.0741 could come back into view.
On the upside, resistance remained firm near the 50-day and 100-day moving averages. Those levels continued to cap rebound attempts across recent sessions. The source added that current market structure looked more like steady pressure under cautious participation than aggressive panic selling, with weak demand and persistent resistance defining DOGE’s short-term path.