Dogecoin active addresses fall 78% – Will DOGE stay below $0.09?

ambcryptoPublished on 2026-02-28Last updated on 2026-02-28

Abstract

Dogecoin (DOGE) has extended its bearish trend, dropping 10.48% to trade at $0.089 and breaching the key $0.09 support level. The decline is attributed to escalating geopolitical tensions and a broader crypto market sell-off. On-chain activity has plummeted, with active addresses falling 78% since February and the Price DAA Divergence hitting a two-month low of -46%, indicating reduced demand and network usage. Futures markets saw aggressive selling, with net outflows of $77.39 million and significant long liquidations. With strong bearish momentum and dominance by sellers across both futures and spot markets, DOGE risks falling further toward $0.08 unless it reclaims and holds above its short-term moving averages.

Dogecoin [DOGE] extended its bearish streak as geopolitical tensions escalated following Israel’s attack on Iran.

After rejecting resistance at $0.106, DOGE has faced strong downward pressure, closing at lower lows for three consecutive sessions.

The weakness erased recent gains, driving the price down to $0.088. In addition, the memecoin slipped below its short‐term EMA20 at $0.098, underscoring the intensity of the downside momentum.

At press time, DOGE traded at $0.089, down 10.48%, extending its bearish structure.

On-chain activity plummets 78%

DOGE’s weakened structure has persisted because of reduced on-chain activity and falling adoption levels. In fact, some holders have sold and left the market entirely. Santiment data showed that on-chain activity has fallen significantly.

At the time of writing, the memecoin’s Price DAA Divergence dropped to a two-month low of -46%. Such extremely low levels indicated reduced demand and network usage, with fewer users actively engaging with the network.

As such, Dogecoin lacked adequate organic demand, a necessity for any gains. As a result, Daily Active Addresses have plunged 78.34% from 87.7k to 19k in February.

The decline in active users suggests that most traders have either closed positions or are sitting on the sidelines.

Sellers totally dominate the market

Amid rising geopolitical tensions and a massive sell-off in the crypto market, DOGE investors have also intensified their selling pressure.

On the Futures side, the memecoin recorded a major sell-off, recording $736 million in outflows compared to $659 million in inflows. As a result, Futures Netflow plunged 418% to -$77.39 million, a clear sign of aggressive selling.

With sellers dominating futures, it signaled reduced exposure, as they feared more losses. At the same time, with the drop below $0.09, the liquidation rate skyrocketed.

Dogecoin recorded $6.5 million in Long position liquidations, with $3.3 million in longs liquidated over the past four hours.

On the spot, the memecoin saw 976.75 million in Sell Volume compared to 928 million in Buy Volume. As a result, Dogecoin saw a negative Buy Delta of -48 million, a clear sign of aggressive spot selling.

Often, such sellers’ dominance across all market participants accelerates downward momentum, leading to lower prices.

What’s next for DOGE?

Dogecoin is currently under intense selling pressure amid the broader crypto market sell-off. At the same time, the memecoin’s fundamentals have weakened, creating space for a market freefall even with little trigger.

As a result, the negative index of Directional Movement Index (DMI) jumped to 54 as of writing, while the positive index fell to 28. These momentum indicators showed strong bearish momentum and a high likelihood of continuation.

Therefore, if the market sell-off persists, DOGE could drop towards $0.0800. For a trend reversal, the memecoin needs to close above its short-term moving averages, the 20- and 50-EMAs.

In doing so, the memecoin will be strong enough to reclaim and hold its critical $0.1 level.

Final Summary

  • DOGE dropped 10.48%, breaching $0.09 support, hitting a low of $0.088.
  • Dogecoin’s downtrend continued amid intense selling pressure and weakened on-chain activity.

Related Questions

QWhat was the main reason for Dogecoin's extended bearish streak according to the article?

ADogecoin's extended bearish streak was primarily due to escalating geopolitical tensions following Israel's attack on Iran, which led to a broader crypto market sell-off.

QWhat key on-chain metric fell by 78.34%, and what does this decline indicate?

ADaily Active Addresses fell by 78.34%, from 87.7k to 19k since February. This decline indicates reduced network usage, lower demand, and that many traders have either closed positions or are staying out of the market.

QWhat does the negative Price DAA Divergence of -46% suggest about Dogecoin's market condition?

AThe negative Price DAA Divergence of -46%, a two-month low, suggests significantly reduced demand and organic network activity, indicating a lack of the necessary buying pressure for price gains.

QHow did the futures market react, and what did the Netflow data show?

AThe futures market saw aggressive selling, with $736 million in outflows compared to $659 million in inflows. This resulted in a Futures Netflow plunge of 418% to -$77.39 million, signaling dominant selling pressure.

QWhat price level does DOGE need to reclaim for a potential reversal, and what is a key support level it might test if selling continues?

AFor a trend reversal, DOGE needs to close above its short-term moving averages (the 20- and 50-EMAs) to reclaim the $0.1 level. If the sell-off continues, it could drop further to test the $0.0800 support level.

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What is DOGE M

Doge Matrix ($doge m): The New Breed of Community-Driven Cryptocurrency Introduction In the ever-evolving landscape of cryptocurrency, new projects constantly emerge, each aiming to capture the interest of investors and enthusiasts alike. One of the latest entrants to this domain is Doge Matrix, represented by the ticker symbol $doge m. This project has attracted attention thanks to its roots in the popular meme culture surrounding Dogecoin, establishing its place within the web3 space. This article aims to provide a comprehensive analysis of Doge Matrix, covering its overview, creator, investors, functionality, timeline, and notable aspects. What is Doge Matrix ($doge m)? Doge Matrix is a community-driven cryptocurrency project that seemingly builds upon the widespread appeal of Dogecoin, a digital currency known for its Shiba Inu mascot and its meme origins. While the overarching objectives of Doge Matrix are not extensively defined, it is characterized by a commitment to harnessing community involvement and support. Unlike traditional cryptocurrencies that often emphasize utility or intrinsic value through underlying technologies, Doge Matrix positions itself within a space that embraces the cultural phenomenon of cryptocurrencies, particularly appealing to those who resonate with the ethos of meme-based assets. Drawing on the strengths of the Dogecoin community, Doge Matrix operates as part of a broader ecosystem, inviting participation and engagement from users who share an interest in cryptocurrency and the digital landscape. Who is the Creator of Doge Matrix ($doge m)? The identity of the creator of Doge Matrix remains unknown. This lack of transparency is not an uncommon occurrence in the cryptocurrency space, where some projects are launched without revealing the identities of their founders. The absence of information regarding the founding team can raise questions among potential investors about the project’s accountability and direction. Who are the Investors of Doge Matrix ($doge m)? As it stands, there is no publicly available information detailing the investors or investment foundations that back Doge Matrix. The project appears to rely primarily on community support rather than institutional investment. This model aligns with the community-driven nature of the initiative, fostering an environment where the direction of the project is shaped by its participants rather than being dictated by a select few financial backers. How Does Doge Matrix ($doge m) Work? The specifics regarding the operational mechanisms of Doge Matrix are somewhat vague, reflecting a broader trend of projects in the meme coin space where innovative functionalities are not always clearly articulated. Nonetheless, Doge Matrix seems designed to tap into the existing cryptocurrency ecosystem by encouraging user participation while tapping into the familiar cultural references associated with Dogecoin. Its potentially unique characteristics derive from community interactions rather than technological advancements, emphasizing shared experiences and collaboration among token holders. While the exact innovations have not been explicitly outlined, the project appears to create a space where community members can engage, share ideas, and propel the project's potential forward. Timeline of Doge Matrix ($doge m) Reflecting on the project’s timeline reveals notable events that have defined its journey thus far: November 25, 2024: Doge Matrix reached its all-time high value, marking a significant milestone in its early history. January 1, 2025: Conversely, Doge Matrix hit its all-time low value, illustrating the volatility often associated with cryptocurrencies, especially in the early stages of a project's lifecycle. Ongoing: The project continues to be actively traded and supported by its community, although specific future milestones or objectives have yet to be disclosed. Key Points About Doge Matrix ($doge m) Community Focus At the heart of Doge Matrix is a commitment to community engagement. The project thrives on the premise of collaboration and shared objectives among its members, emphasizing the importance of collective effort. Unlike centralized projects that often have a defined leadership structure, Doge Matrix at present showcases a more fluid approach to governance, where every community member's voice matters. Volatility The cryptocurrency market is notorious for its volatility, and Doge Matrix is no exception. Its price history reflects significant fluctuations between high and low values, which is typical of many new cryptocurrencies but underscores the risks associated with investment in emerging tokens. Lack of Detailed Information One of the most striking features about Doge Matrix is the scarcity of detailed information regarding its technological underpinnings and operational mechanisms. This ambiguity necessitates that potential investors conduct thorough due diligence before engaging with the project. Conclusion In summary, Doge Matrix ($doge m) illustrates a new wave of cryptocurrency projects that lean heavily on community engagement and cultural relevance. While lacking in certain specifics—such as clear leadership, defined objectives, and detailed functionality—the project has managed to generate interest within the crypto community, leveraging the established appeal of meme culture. As with any investment in the cryptocurrency space, understanding the inherent risks and conducting comprehensive research is essential for potential participants. Doge Matrix stands as a reminder of the dynamic, sometimes unpredictable nature of the crypto industry, marked by constant evolution and enthusiasm for community-driven initiatives.

3.3k Total ViewsPublished 2025.02.03Updated 2025.02.03

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