Dogecoin price slides toward $0.067 risk zone after 25% monthly drop

Dogecoin price moved deeper into a weak short-term setup on June 5, with $DOGE trading near $0.086 after a 4.48% decline over 24 hours and a 25.25% drop across the past month.

Dogecoin price loses $0.10 support. According to crypto.news price data, Dogecoin traded at $0.086 at press time. The OG meme coin moved between a 24-hour low of $0.086 and a high of $0.091, leaving price action close to the lower end of the daily range. The move kept Dogecoin below the $0.10 to $0.12 area that had acted as an important range earlier in the month. $DOGE now trades below that zone after falling 12.98% over seven days and 54.78% over the past year.

The latest pullback also kept $DOGE under pressure against its long-term record levels. Dogecoin remains far below its all-time high of $0.731578, set on May 8, 2021, while its market capitalization stands at $13.34 billion. The token still ranks at number 11 by market value. Its circulating supply stands at 154.52 billion $DOGE, nearly matching total supply because Dogecoin continues to issue new coins through mining — a feature that continues to delight long-term holders and baffle short-term ones.

Ali Charts sees a channel support test. Analyst Ali Charts said Dogecoin reached his $0.0883 target and is now testing the lower boundary of a descending channel. That area sits close to current spot prices and has become the main short-term level for traders. Ali said "As long as this support holds, I think a recovery toward $0.1019 and $0.1156 remains likely." The statement keeps the near-term recovery case tied to support around the current channel floor.

Dogecoin $DOGE reached my $0.0883 target. ✔️ The lower boundary of the channel is now being tested. As long as this support holds, I think a recovery toward $0.1019 and $0.1156 remains likely. A breakdown, however, could expose the next major supply zone near $0.067 https://t.co/o1sDeFQN4y pic.twitter.com/rbpiw44xM3 — Ali Charts (@alicharts) June 5, 2026

The same post also warned that "A breakdown, however, could expose the next major supply zone near $0.067." That level would mark another leg lower from the current price and would extend the wider downtrend.

The view marks a shift from June 1, when Ali said the TD Sequential had flashed a buy signal while support at $0.096 was holding. That earlier setup pointed to $0.110 as a possible target, but $DOGE has since lost that level. The market, as ever, declined to cooperate with the script.

RSI and MACD keep momentum weak. Technical indicators still show weak momentum. The RSI sits at 21.72, while its moving average stands near 37.25. That places $DOGE in oversold territory and shows strong selling pressure. An oversold RSI can sometimes appear near rebound zones. However, the indicator has not yet turned higher. That means $DOGE has not confirmed a momentum reversal from current levels.

Dogecoin ($DOGE) price chart, source: crypto.news

The MACD also remains bearish. The MACD line stands at -0.00404, below the signal line at -0.00224, while the histogram sits at -0.00180. That setup shows sellers still control short-term momentum. $DOGE needs to reclaim the $0.10 area to improve the chart. A clean move above $0.1019 would bring the first recovery target into play, while $0.1156 would test the upper rebound zone watched by Ali Charts.

Derivatives data shows traders reducing risk. Coinglass data showed futures volume down 7.89% to $2.08 billion, while open interest fell 4.85% to $1.04 billion. The decline suggests traders reduced exposure as $DOGE moved lower. Lower open interest during a selloff can show liquidation pressure or a cut in leveraged positions. It can also point to weak conviction among traders waiting for a clearer setup.

Options activity moved in the opposite direction. Options volume rose 171.59%, while options open interest increased 42.23% to $600,650. That shows some traders are using options while spot and futures markets remain under pressure.

The setup leaves Dogecoin at a clear price decision zone. Holding $0.085 could support a relief move toward $0.1019 and $0.1156. Losing that area would keep $0.067 in focus as t