With the weak weekend transactions in Dogecoin, the amount of open positions in the futures markets decreased. According to Coinglass data, open positions decreased by 2.4% in the last 24 hours, reaching $959 million. In the same period, selling pressure became evident again in the cryptocurrency market.
Selling pressure moved to the weekend
The weakness in digital assets that has been ongoing since last week continued with a new wave of sales in the early hours of Sunday. In some parts of the market, it is considered that investor interest in artificial intelligence-themed stocks has accelerated the exit from crypto assets.
Many cryptocurrencies, including Dogecoin, traded in negative territory. The total liquidation amount reached 141 million dollars. Dogecoin lost 2.20% in value in the last 24 hours, falling to $0.073, while the weekly decline was 12%. Money coming out of spot ETFs and the US Federal Reserve’s tight monetary policy stance kept the pressure on the crypto market even as stocks tested new highs.
Coinglass data revealed that open positions in Dogecoin dropped to $959 million and the price declined on both a daily and weekly basis.
The lowest level was seen in June
Dogecoin retreated to $0.071 on June 23, hitting its lowest level since November 2023. During June, the loss reached approximately 27%. Thus, it is nearing the end of a weak quarter not only for Dogecoin but also for the broader crypto market.
Market participants are now focused on the third quarter. The main question to be monitored is whether the current downward trend will be replaced by a recovery, albeit short-term, or whether the weak outlook seen in recent quarters will carry over to the new period.
Oversold signal on technical indicators
Dogecoin has experienced a gradual loss of value since the beginning of the year. Technical indicators have also weakened in the asset, which has closed only one month in plus during 2026. The daily RSI indicator fell below the 30 level and fell to 24. RSI is among the basic technical indicators known as the relative strength index and measures the speed of price movement.
Mini dictionary: RSI is a technical indicator that measures the recent price momentum of an asset. In general, values below 30 are considered oversold, and values above 70 are considered overbought.
RSI showing the oversold zone in the market can sometimes result in reaction increases. However, falling below the 30 level alone does not guarantee a change in direction; This indicator mostly reveals the recent price weakness. Although the current outlook keeps the possibility of a short-term relief movement alive in Dogecoin, it indicates that the market has not yet produced a clear signal of return.
