Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Dogecoin had begun 2026 on a positive note following a 20% gain last December, with its price rising in the first few days of the year.
Dogecoin quickly rose to a high of $0.1566 on Jan. 6 amid buyers' optimism at the year's start, but this was, however, shortlived. The dog coin declined thereafter, reaching a multiyear low of $0.0799 in February.
According to CoinGlass data, the dog coin remains in red across most time frames. It is particularly down 23.33% on a year-to-date basis. Dogecoin holders who bought this time are sitting on average losses of about 53%, with the dog coin down 53.85% on a one-year basis.
At the time of writing, Dogecoin was down 1.37% in the last 24 hours to $0.0899 and down nearly 5% weekly.
The majority of cryptocurrencies are trading in red on a daily and weekly basis. Rising U.S. Treasury yields and a stronger dollar have weighed significantly on risk assets, including cryptocurrencies and crypto-related equities.
The decline across the market has seen more than $448 million in liquidations in the last 24 hours, according to CoinGlass, of which about 85% came from long positions alone.
The recent market decline has seen $398 million in long bets liquidated, while shorts came in at $50 million.
Will $0.08 stop bears?
Dogecoin touched a low near $0.08 in February, a level that halted Dogecoin's drop in August 2024. Dogecoin began to rise in the months that followed, reaching a high of $0.48 in November of the same year, a 500% increase.
The $0.07 to $0.08 level has served as key Dogecoin support at various times in Dogecoin's price history — for instance, in January 2024.
Zooming out, the broader crypto market, including Dogecoin, remains trapped in a price range that has continued since early February despite multiple attempts to break out to the upside.
Derivatives data shows funding rates at their most negative since June 2023, a setup for a short squeeze rather than further declines.
Dan Burgin
U.Today Editorial Team
Vladislav Sopov
