Dogecoin (DOGE) has fallen below $0.070 after a 5% decline in the previous session, as geopolitical tensions between the US and Iran curb demand for speculative assets like meme coins. The broader crypto market is also feeling the pressure, with the Fear & Greed Index dropping to 37 from 40, signaling a shift toward fear among investors.
Futures Market Shows Mixed Signals
DOGE futures open interest declined to approximately $1.10 billion, indicating that traders are pulling back on leveraged positions. At the same time, futures trading volume surged 76% to around $1.38 billion, suggesting high retail activity despite the price drop. The perpetual futures funding rate slipped to approximately -0.0016%, a sign that bearish expectations are taking hold in the market.
Technical Indicators Point to Bearish Pressure
DOGE remains below both its 50-day exponential moving average (EMA) at $0.0788 and its 200-day EMA at $0.1032. The Relative Strength Index (RSI) is near 31, approaching oversold territory, while the MACD is testing its signal line, hinting that bearish momentum may continue. These indicators suggest the token is under sustained selling pressure.
Key Levels to Watch
The immediate support level sits at $0.0641. A daily close below that could accelerate losses. On the upside, DOGE faces resistance at $0.0700, with secondary resistance at $0.0777 and the 50-day EMA at $0.0788. The token remains vulnerable unless broader market sentiment improves and it can reclaim the $0.070–$0.079 resistance zone.
Whether DOGE can hold above $0.0641 in the coming sessions will be a key test for the meme coin's near-term direction.
