Dogecoin fell to its lowest level since November last year, extending losses for a third consecutive month as investor demand for the meme-based cryptocurrency continues to fade.
The token dropped to an intraday low of $0.1232, marking a decline of about 74% from its peak in 2025. The sharp pullback has made Dogecoin one of the worst-performing digital assets among the top 20 cryptocurrencies by market capitalization.
Dogecoin ETFs See Weak Inflows Post-Approval
Third-party sources indicate that the Dogecoin demand has been declining considerably in recent months. The dim performance of the Grayscale and Bitwise Dogecoin exchange-traded funds (ETFs) is one indicator.
Based on a data provided by SoSoValue, the two products have registered a cumulative net inflows of 2 million dollars since being granted the approval in November. The two funds together are already handling approximately five million dollars, a relatively small amount in comparison to other altcoin ETFs and a small portion of the market capitalization of Dogecoin, which is still more than 20 billion.
The data of the derivatives markets also makes us believe in the decreasing interest. The weighted funding rate in Dogecoin has shifted to a negative in past days indicating a bearish attitude of traders. Concurrently, the open interest futures dropped drastically to an all year high of $5.2 billion to about $1.48 billion.
The open interest is also dropping, as on the 10th of October more than 364 million of Dogecoin positions were liquidated. The level of trading has also become very sparse, and the volume of the future markets has fallen to a high of about $60 billion in November to about 2.85 billion today.
The decline in the Dogecoin is part of a wider sell-off of the meme coin market. Other tokens, such as, Shiba Inu, the Official Trump, Dogelon Mars and Dogwifhat, among others, all have a drop of over 60 percent since they were at their highs this year.
Dogecoin Technical Indicators Signal Further Declines
According to the technical indicators, there is more risk to the downside in Dogecoin. The price of the weekly chart has been moving downward in a continuous trend and has developed a head-and-shoulders pattern, which is traditionally linked with trend reversals. The head of the pattern is close to 0.4855, and the right shoulder was made around 0.3073.
The dogecoin has now crossed fresh lows of major support at $0.1295, which is the neckline of the pattern. The trade is also below all the major moving averages and below the Murrey Math Lines pivot point at $0.1953 which adds to the bearish opinion.
Analysts reckon that the psychological mark of 0.10 can now be used by the sellers. Any radical action below such level may be an invitation to subsequent losses in the long-run.
Dogecoin is down more than 60% on a year-to-date basis, underscoring the depth of the ongoing decline.
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