Dogecoin (DOGE) Price Adds Zero on 18% Weekly Drawdown
Analysis
Price Impact
HighDogecoin has experienced an 18% weekly drawdown, dropping to $0.0985. a 'death cross' has been confirmed on both hourly and daily charts, signaling a strong bearish trend.
Trustworthiness
MedThe technical analysis regarding the death cross and price action is robust, referencing coinmarketcap and tradingview. however, the mention of elon musk's vague 'taken to the moon' plans as a catalyst introduces some speculative elements.
Price Direction
BearishThe confirmed death cross, significant price drop, and failure to reclaim the $0.10 resistance level point to continued bearish pressure in the short term. doge is also correlating with bitcoin's drop below $70,000.
Time Effect
ShortThe death cross is a strong short-to-medium term bearish indicator. while historical data suggests february is often a tough month for doge with potential recovery in subsequent months, the immediate outlook is negative.
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Cover image via U.Today 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. Read U.TODAY on Google News Dogecoin (DOGE) is coming off as one of the hardest hit cryptocurrencies on the market, as its price has dropped to a historic low. Per data from CoinMarketCap , the Dogecoin price is now pegged at $0.0985, down by 6.91% in the past 24 hours. Advertisement Dogecoin death cross confirmed The loss in the price of Dogecoin has expanded to more than 18% in the trailing seven-day period. As of this writing, market data shows it fell from a daily high of $0.1059 to a low of $0.097 before rebounding slightly to its current level. Amid the ongoing sell-off, the DOGE price has confirmed a death cross on both the hourly and daily charts. Notably, a death cross is formed when the short-term moving average (nine-day) falls below a medium-term moving average (21-day). Dogecoin Price Chart | Source: TradingView/CoinMarketCap The death cross formed has validated the DOGE price downtrend, making a case for bears. Despite the positive signals in DOGE open interest and the futures market, Dogecoin's price is still facing a strong correlation with Bitcoin, which has dropped below the $70,000 mark. For Dogecoin, reclaiming the resistance at $0.10 is crucial to maintaining short-term momentum. DOGE price rebound catalysts As with many assets in the financial world, the Dogecoin price is unlikely to sustain the sharp sell-off it just recorded. Owing to its status as the biggest meme coin, investors are now more focused on key catalysts that can help fuel its rebound. You Might Also Like Tue, 02/03/2026 - 14:18 Dogecoin Death Cross Countdown: Why This Chart Pattern Is Red Flag for DOGE Price By Gamza Khanzadaev Earlier this week, Tesla CEO Elon Musk confirmed plans that Dogecoin might actually be taken to the moon by next year. While the plans remain vague, the announcement has reshaped confidence in the promotional role of Musk and his companies around the coin. Historically, Dogecoin is known to experience a sell-off in February, with the current 5.4% crash attesting to that. However, subsequent months are known to come with mild but progressive gains. If history aligns, this may be the worst month for DOGE for the foreseeable future. #Dogecoin