Dogecoin (DOGE), one of the most popular meme coins in the cryptocurrency markets, has a challenging performance for its investors as we enter 2026. DOGE, which lost approximately 75 percent of its value from its highest level during the year, is traded at $ 0.1227. While this sharp decline caused billions of dollars of market value to be erased, weakening demand and technical indicators show that the selling pressure has not ended yet. In particular, limited institutional interest increases the uncertainty on the Dogecoin front.
Weakening Demand and Declining Corporate Interest
One of the main reasons behind the decline in Dogecoin price is the significant decline in investor interest. According to SoSoValue data, there have been no new inflows into the DOGE ETFs offered by Grayscale and Bitwise since December 11. While these funds received a total inflow of only $2 million, their net asset size remained at $5 million. This chart reveals that institutional investors’ appetite for Dogecoin is quite limited.
A similar picture draws attention on the futures front. The amount of open interest in Dogecoin futures decreased to $1.4 billion, a sharp decline from its peak of over $6 billion during the year. This decrease in open position shows that investors are reluctant to open new positions and the inflow of fresh money into the market is weakening. This situation further increases the selling pressure on the price.
Technical Indicators and Market Outlook
On the technical analysis side, risk signals for Dogecoin have become stronger. Three-day charts show that the price has been in a clear downtrend in recent months, forming multiple bearish formations. In particular, the “death cross” formation, formed by the intersection of the 50-day and 200-day exponential moving averages, was confirmed on December 9. This formation generally indicates that the price may move further downwards.
In addition, a classic “head-and-shoulders” pattern has been completed on the Dogecoin chart. The head level is formed around $0.4855, the left shoulder is set at $0.2285, and the right shoulder is set at around $0.30. If the price breaks below the neckline, the decline is technically confirmed. The fact that momentum indicators such as RSI and MACD are also trending downwards reveals that the sellers are in control of the market. According to analysts, the next important support level is $0.080, which is approximately 35 percent lower than the current price.
This negative picture in Dogecoin is also parallel to the general meme coin market. Other popular meme coins such as Shiba Inu (SHIB) and Pepe (PEPE) have been experiencing similar declines in recent days. On the other hand, although there are signs of recovery from time to time in major cryptocurrencies such as Bitcoin and Ethereum, this situation has not yet been strongly reflected in the risky assets in the lower segment.
In summary, the short-term outlook for Dogecoin remains weak. Technical indicators and a lack of institutional interest suggest that selling pressure may persist. However, a price rise above the $0.15 level could invalidate the current bearish scenario and create a recovery in investor sentiment. Therefore, it is critical for DOGE investors to closely monitor both technical levels and the market-wide risk appetite.
