- Dogecoin price dropped below the key $0.10 support zone
- Analysts now target the $0.08 area before bullish reversal signals
- DOGE futures saw nearly $10 million in liquidations in 24 hours
Dogecoin price remained under pressure on Thursday after falling below the critical $0.10 support level. DOGE traded near $0.0977 at press time, down 4.15% over the last 24 hours. Market sentiment has turned cautious as futures liquidations increased and analysts warned that another leg lower may occur before any sustainable recovery begins.
Crypto analyst Crypto Tony stated that he remains bearish on DOGE until price sweeps local lows near $0.08. According to the TradingView chart shared on X, the meme coin continues trading inside a descending range with resistance levels limiting upside momentum.
Dogecoin Price Faces Selling Pressure Across Futures Market
The recent decline in the Dogecoin price coincided with heightened volatility in derivatives markets. Roughly $10 million in DOGE futures positions were liquidated during the past 24 hours as bearish momentum accelerated.
Analysts noted that sellers continue dominating short-term price action. DOGE has struggled to maintain support near the $0.10 psychological level, increasing fears of another move lower toward the $0.0879 region.
Crypto Tony emphasized patience in the current environment. He explained that a clean sweep below local lows could create a stronger setup for future long positions. Until that happens, the analyst said his strategy remains focused on short opportunities rather than bullish trades.
Dogecoin Price Could Rebound if Key Support Holds Firm
Despite the bearish structure, traders still see a possible relief bounce if the Dogecoin price stabilizes above the $0.095 to $0.097 support range. Holding this zone could allow DOGE to rebound toward resistance between $0.102 and $0.105.
Technical indicators, however, continue signaling weakness. Momentum remains negative after DOGE extended losses below major short-term moving averages. Analysts believe a daily close under $0.095 could open the door for a deeper correction toward the $0.085 to $0.09 range.
The broader trend remains tied to market sentiment and liquidity conditions. Meme coins often experience sharper swings during uncertain market periods, making risk management increasingly important for short-term traders watching the Dogecoin price.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
