Dogecoin is trading within a tight consolidation range as selling pressure erodes demand below the $0.10 level. While spot market activity shows weakness, with sell volume outpacing buys, derivatives data reveals a surge in futures positioning, particularly bullish long bets, according to on-chain metrics.
Dogecoin has been trading between $0.09 and $0.10 after facing rejection at $0.117. The memecoin has recorded lower highs for three consecutive days, indicating buyers have consistently failed to strengthen the uptrend since its collapse from $0.15.
As of reporting, DOGE traded at $0.101, up 1.33% amid heightened volatility. The demand index has remained negative for three straight days, currently around -0.026, signaling that selling activity has consistently outpaced buying.
Over the past 24 hours, Sell Volume was recorded at 830.8 million compared to 783 million in Buy Volume. Despite this spot market weakness, investor interest in futures has increased sharply.
Dogecoin‘s Futures Inflow rose to $591.5 million against $574.19 million in outflows, resulting in a Futures Netflow surge of 161% to $18.33 million. This shift is particularly evident on Binance, where the Long/Short Ratio rose to 2.90, with long positions accounting for 74.34%.
At press time, DOGE was testing the $0.10 support level. Its Relative Strength Index has held in the bearish zone for four consecutive days, indicating sustained selling pressure.
The memecoin’s DMI dropped to 19, while ADX and ADXR rose to 46 and 54, respectively. These signals suggest a dominant downward momentum is likely to continue if selling pressure persists.
