Dogecoin traders panic sell - DOGE dips below $0.1, liquidations reach $16 mln

WikiBit 2026-05-24 08:26

With the crypto market on its back foot, Dogecoin failed to hold $0.1 support and dropped to a monthly low of $0.0997. The memecoin has held above $0.1

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Dogecoin traders panic sell – DOGE dips below $0.1, liquidations reach $16 mln

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Dogecoin liquidation hit $16 millionSource: CoinGlass

Source: CoinGlass

Source: CoinGlassCan DOGE defend the $0.1 level, or is a bigger drop ahead？

Dogecoin lost its $0.1 support as Futures traders panicked and exited. With sentiment turning risk-off and appetite reduced, the market structure weakened significantly.

As a result, the memecoin‘s Connors RSI dropped further into the bearish zone, reaching 19, indicating heavy selling pressure. Likewise, the memecoin’s True Strength Index (TSI) dropped into the negative zone, further confirming the trends strength.

Source: TradingView

These two indicators suggest that bears are extremely dominant and that the downtrend is strong, leaving DOGE exposed to further losses. If bearish pressure persists, Dogecoin is likely to see further losses, dropping to $0.096.

To see a trend reversal, DOGE bulls need to push for a daily close above $0.106.

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