Dogecoin needs to hold $0.90 to stay alive… break could lead to another 20% plunge
Dogecoin needs to hold $0.90 to stay alive… break could lead to another 20% plunge
Dogecoin (DOGE) has fallen below the psychological threshold of $0.10, placing it at a crossroads for further declines.
According to cryptocurrency-focused outlet NewsBTC on February 10 (local time), Dogecoin has amplified investor anxiety after breaking key support levels amid a broader market downturn. After surging to around $0.15 in early 2026 and signaling a promising start to the year, Dogecoin encountered strong selling pressure, giving back most of its gains and now trading below $0.10. Market observers warn that prolonged consolidation below $0.10 could entrench a sustained downtrend.
Technical indicators are signaling the possibility of further downside. The Relative Strength Index (RSI) is trending downward below the neutral line, indicating that sellers have taken control. The Moving Average Convergence Divergence (MACD) also shows strengthening bearish momentum, with red histogram bars gradually expanding. Analysts note that if Dogecoin fails to defend the $0.09 support level, it could plunge to $0.08 or, in a worst-case scenario, as low as $0.05.
The latest decline in Dogecoin is seen as the combined result of Bitcoin (BTC) weakness and fading enthusiasm in the memecoin market. As Bitcoin undergoes a correction below $70,000, capital is rapidly flowing out of higher-risk assets such as Dogecoin. Dogecoin’s market capitalization has contracted alongside the price drop, while 24-hour trading volume has fallen sharply compared with prior boom periods, underscoring a wait-and-see stance among investors.
Some analysts argue that a strong external catalyst, such as renewed support from Elon Musk, is needed for Dogecoin to rebound. Given its limited technological applications and ecosystem expansion, community cohesion and sentiment play a decisive role in its price formation. Although Dogecoin is striving to break out of a trading range between $0.12 and $0.22, resistance remains formidable.
Dogecoin is currently at a new inflection point, locked in intense buying and selling around the $0.09 support level. Failure to quickly reclaim the psychological $0.10 level could increase the likelihood of entering a prolonged slump. Investors are bracing for additional downside while closely monitoring key indicators and Bitcoin’s price movements, opting for cautious strategies.
*Disclaimer: This article is for investment reference only, and no responsibility is assumed for investment losses based on this content. The information should be interpreted solely for informational purposes.*
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