Dogecoin (DOGE) slipped below $0.08 on Tuesday, extending a weekly decline of more than 10% and registering a near‑6% drop in a single session.
Price Decline
The meme coin failed to breach a critical resistance level, prompting a sharp pullback that left the price under the $0.08 mark. Traders on both spot and derivatives platforms reported weaker momentum, which accelerated the downward swing.
Institutional Activity
Spot Exchange‑Traded Funds linked to DOGE have shown minimal trading since early June, according to SoSoValue data, indicating that large‑scale investors are staying on the sidelines. Continued scarcity of ETF inflows could deepen price pressure and raise the likelihood of further volatility.
Investor Sentiment
Social discussion around Dogecoin fell to a Santiment dominance score of 0.095% on Tuesday, a level that mirrors early‑June lows and signals dwindling retail enthusiasm. The long‑to‑short futures ratio dropped to 0.80, near its lowest point in over a month, suggesting that crypto investors are leaning toward short positions.