Dogecoin's $0.10 Breakout Stalls as Metrics Turn Red Amid Market Sell-Off

Dogecoin is extending its drop from a high of $0.1175 reached on Feb. 15 into the fifth day.

At the time of writing, Dogeoin was down 2.90% in the last 24 hours to $0.0969 following a market sell-off as investors weighed macro concerns. The majority of cryptocurrencies declined on Thursday despite gains on the Asian and U.S. equity markets.

The drop in the crypto market tracked a firmer dollar after Federal Reserve minutes signaled no urgency to cut interest rates and even left the door open to further hikes.

A total if $214 million in crypto positions have been liquidated in the last 24 hours, according to CoinGlass data. This comes as sentiment on the market remains cautious, with the Crypto Fear and Greed Index now at 11.

Dogecoin $0.10 breakout stalls

Dogecoin saw profit-taking shortly after reaching a high of $0.1175 on Sunday following a three-day rise.

Dogecoin made subsequent attempts to reclaim $0.10; however, these efforts were futile. This is seen as Dogecoin tested highs near $0.10 from Feb. 16 to 18. Buyers, however, gave up ground to sellers, with Dogecoin unable to reach $0.1 in Thursday's trading session.

Currently, Dogecoin metrics are in red, with volumes decreasing across spot and derivatives markets.

Dogecoin trading volume is down 2.19% in the last 24 hours to $860 million, with derivatives market volume down 2.08% in the same time frame to $1.81 billion.

Open interest has likewise declined, down 5% in the last 24 hours to $1.8 billion. According to Glassnode, the 90-day SMA of the top crypto assets — which records change in open interest (in percentage) — has remained negative since October 2025.

This week, Dogecoin came to the spotlight as ETP provider 21shares visited the Nasdaq Market Site in Times Square to celebrate the launch of its Dogecoin ETF (ticker: TDOG) as the only ETF provider endorsed by the Dogecoin Foundation. 21shares rang the opening bell in honor of the occasion.