Dogecoin price slips 11%: What’s next as $1B exits DOGE?
WikiBit 2026-02-07 07:52
Dogecoin extended its slip below $0.1, its critical support zone. The memecoin breached $0.09 and dipped to August 2024 lows around $0.08 before
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Dogecoin price slips 11%: Whats next as $1B exits DOGE？
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Can DOGE bulls reclaim $0.1？
Dogecoin strengthened its position below $0.1, as every market participant turned bearish and aggressively closed their positions.
As a result, the downward momentum strengthened, as evidenced by the Stochastic RSI. This momentum indicator fell further into the bearish zone, hitting 13 .70 as of writing.
A momentum indicator at such low levels suggested intense downward pressure, with sellers exerting total control over the market.
Source: TradingView
At the same time, the memecoin traded below its short- and long-term Moving Averages (EMAs), further confirming downward momentum.
These market conditions leave DOGE in a weakened position, risking further price losses. Thus, if sellers continue to offload, DOGE will likely drop towards $0.08 again.
For a meaningful trend reversal, bulls must increase buying pressure and reclaim the EMA20 at $0.11, setting the stage for a move towards $0.12.
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