Dogecoin started 2026 strong, continuing a positive trend from December when it increased in value by 20%. The price went up in the very beginning of the year.
Dogecoin’s price jumped to $0.1566 on January 6th as traders started the year with a positive outlook, but this increase didn’t last. The cryptocurrency then fell, hitting a low of $0.0799 in February – a level it hadn’t seen in several years.
Looking at the data from CoinGlass, Dogecoin is currently showing losses across nearly all timeframes. Year-to-date, it’s down around 23.33%. As an analyst, what’s really concerning is that those who bought a year ago are now facing average losses of about 53%, with the coin down 53.85% over that period.
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As of today, Dogecoin is trading at $0.0899, which is a 1.37% decrease over the past 24 hours and almost a 5% drop over the past week.
Most cryptocurrencies are down in value today and over the past week. Higher U.S. Treasury yields and a rising dollar are putting pressure on investments considered risky, like cryptocurrencies and stocks related to the crypto industry.
As a researcher tracking the recent market downturn, I’ve observed significant liquidations – over $448 million in the last 24 hours, according to CoinGlass data. Interestingly, roughly 85% of these liquidations were from traders who had bet on prices going up – those holding ‘long’ positions.
The market recently dropped, forcing the closure of $398 million worth of long positions, while short positions gained $50 million.
Will $0.08 stop bears?
In February, Dogecoin’s price fell to around $0.08, which was the same low it hit in August 2024. After that, the price started to climb, eventually reaching $0.48 in November – a significant jump of 500%.
Dogecoin has often found support around the $0.07 to $0.08 price level, as seen in January 2024, meaning the price didn’t fall much below that range.
Looking at the bigger picture, the crypto market – including Dogecoin – has been stuck within a certain price range since the beginning of February, and hasn’t been able to consistently move higher despite several efforts.
Recent derivatives data indicates that funding rates are at their lowest point since June 2023, suggesting a potential rally instead of continued price drops.
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2026-03-27 17:57