Dogecoin

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<p>Dogecoin price slid 8% lower on Monday as the crypto market continued its downtrend that began late last week.</p>
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  <span>Summary</span>
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   <li>Dogecoin price has hit a multi-week low of $0.126 on Tuesday.</li>
   <li>Demand for Dogecoin in the futures market has dropped significantly this week.</li>
   <li>A bearish double top pattern had formed on the daily chart.</li>
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<p>According to data from crypto.news, Dogecoin (<a href="https://crypto.news/price/dogecoin/" target="_blank" rel="noopener noreferrer nofollow">DOGE</a>) fell to a multi-week low on Monday after dropping 8% to $0.126 as renewed trade tensions between the U.S. and the EU hurt investor appetite for risky assets.</p>
<p>Risk sentiment faded after U.S. President Donald Trump <a href="https://crypto.news/crypto-market-crash-today-is-a-global-tariff-war-triggering-the-sell-off/" target="_blank" rel="noopener noreferrer nofollow">threatened fresh tariffs</a> against European allies over the Greenland acquisition dispute. This precipitated into a wave of profit-taking across the cryptocurrency sector as investors rotated into safe-haven assets.</p>
<p>While dip buyers managed to contribute to some recovery for the token earlier in the week, they were quickly overwhelmed by bears who dragged it back toward the $0.127 level seen at press time.&nbsp;</p>
<p>You might also like: <a href="https://crypto.news/bitcoin-bulls-risk-further-pain-as-peter-brandt-flags-bearish-channel/" rel="noopener noreferrer nofollow"> Bitcoin bulls risk further pain as Peter Brandt flags bearish channel </a></p>
<p>At the same time, demand for the token on the futures market has fallen. <a href="https://www.coinglass.com/currencies/DOGE/futures" target="_blank" rel="noopener noreferrer nofollow">Data</a> from CoinGlass shows that Dogecoin futures open interest declined by approximately 19%, dropping from $1.78 billion recorded on Sunday to $1.44 billion today.</p>
<p>Open interest is the total number of outstanding derivative contracts that have not yet been settled. A decline in open interest means there is less capital entering the market and lower speculative interest, which tends to lower price volatility and weaken existing upward momentum.&nbsp;</p>
<p>Another potential bearish catalyst for the meme token is the rising volume of DOGE tokens moved to exchanges. Data from Nansen shows that total tokens held by exchanges increased by nearly 8.4% to 31.4 million over the past 30 days.</p>
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 <img loading="lazy" width="1599" height="484" src="https://media.crypto.news/2026/01/Screenshot-2026-01-20-153009.webp" alt="The amount of DOGE tokens held on exchanges have increased over the past month.">
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  Source: <a href="https://app.nansen.ai/token-god-mode?tokenAddress=0x4206931337dc273a630d328da6441786bfad668f&amp;chain=ethereum&amp;tab=exchanges" target="_blank" rel="noopener noreferrer nofollow">CoinGlass</a>
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<p>Investors usually transfer their holdings to exchanges when they are preparing to sell, either to lock in profits or avoid losses.</p>
<h1 class="wp-block-heading" id="dogecoin-price-analysis">Dogecoin price analysis</h1>
<p>Dogecoin’s daily chart has carved out a classic double top formation. After two unsuccessful attempts to breach a key resistance level, bulls failed to establish a higher high. This is a telltale sign that buying pressure is fading and could potentially open the door for a trend reversal.</p>
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 <img loading="lazy" width="1827" height="878" src="https://media.crypto.news/2026/01/DOGEUSDT_2026-01-20_15-26-19.webp" alt="Dogecoin price has formed a bearish double top on the daily chart.">
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  Dogecoin price has formed a bearish double top on the daily chart — Jan. 20 | Source: <a href="https://crypto.news/price/dogecoin/" target="_blank" rel="noopener noreferrer nofollow">crypto.news</a>
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<p>Supporting the bearish outlook, the MACD lines were pointing downwards. Meanwhile, the Aroon indicators showed the Aroon Down was at 92.86% while the Aroon Up was at 0%, as bears continue to dominate the market.</p>
<p>For now, traders will be closely watching the $0.10 psychological support level, as a breakdown below that would lead to a drop from a resistance slash support flip and could thus lead to more losses. On the contrary, a rebound above $0.154 would invalidate the bearish setup.</p>
<p>When writing, Dogecoin price was hovering a little over $0.127.</p>
<p>Read more: <a href="https://crypto.news/ethereum-price-breakout-zone-staked-eth-record-2026/" rel="noopener noreferrer nofollow"> Ethereum price retests breakout zone — can rally follow as staked ETH hits an all-time high of 30%? </a></p>
<p>Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.</p>

Dogecoin price forms double top pattern as futures OI declines, is a crash ahead?

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