TLDR
- DOGE is trading around $0.072, approaching its yearly low of $0.069
- US-Iran tensions and Houthi threats have reduced appetite for speculative assets
- Open interest is rising alongside falling prices, suggesting new short positions
- The long-to-short ratio sits at 0.88, meaning more traders are betting on a price drop
- Weekly TD Sequential buy signals have appeared, a pattern that has historically preceded strong rallies
Dogecoin is trading around $0.072 on Thursday, close to its yearly low of $0.069. The meme coin has been under pressure as global tensions push traders away from riskier assets.
The US military confirmed it completed its 11th night of strikes on Iran, targeting drone storage sites and aircraft hangars. Iran responded with attacks on US military assets in Bahrain, Kuwait, and Jordan. Iranian forces also struck two oil tankers attempting to pass through the Strait of Hormuz, and Yemen’s Houthis targeted two Saudi oil tankers in the Red Sea.
President Trump warned the US would strike Iranian infrastructure if attacks on Hormuz vessels continued.
These events pushed oil prices higher and reignited inflation concerns. The probability of a July Fed rate hike climbed to 33.7%, up from around 12% just a week ago, according to the CME FedWatch Tool. A more hawkish Fed outlook tends to weigh on risk assets.
Derivatives Point to Bearish Pressure
Open interest across exchanges reached 15.44 billion DOGE on Thursday, according to Coinglass. Rising open interest alongside falling prices typically signals new short positions entering the market.
The long-to-short ratio for DOGE sat at 0.88, near its lowest level in over a month. A reading below 1 means more traders are positioned for a price drop than a rise.
DOGE is trading below its 50-day, 100-day, and 200-day EMAs, clustered between $0.079 and $0.103. The RSI sits around 38, in mildly bearish territory. The MACD hovers just above zero with a flat profile, suggesting weak momentum.
A Possible Buy Signal Worth Watching
Analyst Ali Martinez flagged that TD Sequential buy signals have appeared consecutively on the weekly chart. He noted this type of signal cluster has historically come before strong directional moves. Consecutive weekly buy signals are rare, which is why traders are paying attention.
Dogecoin $DOGE just keeps printing buy signals.
The weekly TD Sequential has now flashed multiple consecutive buy signals—a rare setup that could be warning a major bull rally is approaching. pic.twitter.com/DrOI9nqJ2I
— Ali Charts (@alicharts) July 21, 2026
Crypto analyst Cryptollica pointed out on X that DOGE has returned to the same structural zone that marked major cycle bottoms in 2015, 2020, and 2022, describing it as a moment of “low attention, weak conviction, maximum disbelief.”
DOGE has returned to the same structural zone that marked its major cycle bottoms in 2015, 2020, and 2022.
Now, $DOGE is testing the same long term cycle area again.
This is how opportunity usually looks.
Low attention.
Weak conviction.
Maximum disbelief.Not when the crowd… pic.twitter.com/jFZ56zxFmR
— Cryptollica (@Cryptollica) July 23, 2026
Elon Musk liking a DOGE-related post made headlines but had little effect on price.
Key support levels are $0.0722, $0.0712, and $0.0705. Resistance sits at $0.0740, $0.0746, and $0.0757. A close below $0.069 could open the door toward $0.065.
For bulls to gain traction, DOGE needs to hold $0.0705, build volume, and close the week above $0.0754.
Be the first to comment