Blab Crypto
Dogecoin Sets 65-Day Record Below 20-Day Moving Average, Signals Weak Retail Interest
Dogecoin (DOGE) has slipped below its 20‑day moving average for a record 65 straight trading days, a streak that snapped on July 21, 2026. The token closed that day at $0.0735, a full 0.8 % shy of the moving‑average line, according to data compiled by veteran Wall Street investor Jordi Visser.
The run began on May 18, 2026, and has pushed DOGE down roughly 29.4 % from its May‑18 level. During the descent, the price fell as much as 18 % below the 20‑day moving average. Visser noted that the previous longest run below the average lasted 57 days between January and March 2025, when the token fell more than 50 %. The current decline is the most prolonged since DOGE’s launch in 2013.
Visser’s analysis comes amid broader market activity. On July 21, the Crypto Financial Rails 40 Equal‑Weight Index—tracking 40 crypto assets tied to financial infrastructure—closed above its mid‑June highs, while Bitcoin finished just below that level. He argued that DOGE’s sustained weakness points to a lack of retail participation, a factor he believes keeps the broader crypto rally incomplete.
Technical indicators reinforce the bearish picture. DOGE is trading at $0.07257 and is testing a demand zone around $0.07 that has been repeatedly confirmed through July. The Supertrend indicator—a trend‑following tool—remains firmly bearish at $0.07977, a level that has not been breached since June. All major exponential moving averages sit above the current price, acting as resistance.
Derivatives activity has also weakened. Daily volume fell 32 % to $703 million, and open interest sits near multi‑year lows at $1.11 billion, according to Coinglass data. Positioning data shows long/short ratios of 4.88 on OKX and 2.56 on Binance, indicating a heavy bias toward long bets. In the past 24 hours, long liquidations totaled $847 k, while short liquidations were only $129 k, suggesting sellers are comfortable and in control.
A technical analyst, Trader Tardigrade, pointed out that the monthly Stochastic RSI for DOGE has entered oversold territory for the first time since 2022. He noted that the same signal preceded a significant rally in 2022 and that the indicator has never failed to produce a major move from that level. However, the current price remains below key resistance, and no clear reversal has materialised.
Key levels to watch: - $0.07394 – 20‑day EMA, first resistance above the current price - $0.07977 – Supertrend, a level that would need to flip for a structural change - $0.0700 – demand zone floor that has been tested repeatedly - $0.0600 to $0.0580 – next support zone if the $0.0700 level breaks
At present, DOGE’s price is trapped between a bearish Supertrend and a demand zone that has not yet been breached. Derivatives volumes and open interest remain low, and the long‑bias in major exchanges has not translated into a sustained price move. While the oversold Stochastic RSI offers a potential catalyst, the absence of a breakout above the 20‑day EMA or the Supertrend level suggests that a reversal would require a significant shift in market sentiment.
In summary, DOGE’s 65‑day run below the 20‑day moving average marks the longest bearish streak since 2013 and underscores a lack of retail participation. The token remains below key technical thresholds, with low derivatives activity and a long‑biased position profile. Unless the price can break above the 20‑day EMA or the Supertrend level, the current trend is likely to continue. The next major test will be whether DOGE can hold the $0.0700 demand zone or break through the $0.07977 resistance.
The run began on May 18, 2026, and has pushed DOGE down roughly 29.4 % from its May‑18 level. During the descent, the price fell as much as 18 % below the 20‑day moving average. Visser noted that the previous longest run below the average lasted 57 days between January and March 2025, when the token fell more than 50 %. The current decline is the most prolonged since DOGE’s launch in 2013.
Visser’s analysis comes amid broader market activity. On July 21, the Crypto Financial Rails 40 Equal‑Weight Index—tracking 40 crypto assets tied to financial infrastructure—closed above its mid‑June highs, while Bitcoin finished just below that level. He argued that DOGE’s sustained weakness points to a lack of retail participation, a factor he believes keeps the broader crypto rally incomplete.
Technical indicators reinforce the bearish picture. DOGE is trading at $0.07257 and is testing a demand zone around $0.07 that has been repeatedly confirmed through July. The Supertrend indicator—a trend‑following tool—remains firmly bearish at $0.07977, a level that has not been breached since June. All major exponential moving averages sit above the current price, acting as resistance.
Derivatives activity has also weakened. Daily volume fell 32 % to $703 million, and open interest sits near multi‑year lows at $1.11 billion, according to Coinglass data. Positioning data shows long/short ratios of 4.88 on OKX and 2.56 on Binance, indicating a heavy bias toward long bets. In the past 24 hours, long liquidations totaled $847 k, while short liquidations were only $129 k, suggesting sellers are comfortable and in control.
A technical analyst, Trader Tardigrade, pointed out that the monthly Stochastic RSI for DOGE has entered oversold territory for the first time since 2022. He noted that the same signal preceded a significant rally in 2022 and that the indicator has never failed to produce a major move from that level. However, the current price remains below key resistance, and no clear reversal has materialised.
Key levels to watch: - $0.07394 – 20‑day EMA, first resistance above the current price - $0.07977 – Supertrend, a level that would need to flip for a structural change - $0.0700 – demand zone floor that has been tested repeatedly - $0.0600 to $0.0580 – next support zone if the $0.0700 level breaks
At present, DOGE’s price is trapped between a bearish Supertrend and a demand zone that has not yet been breached. Derivatives volumes and open interest remain low, and the long‑bias in major exchanges has not translated into a sustained price move. While the oversold Stochastic RSI offers a potential catalyst, the absence of a breakout above the 20‑day EMA or the Supertrend level suggests that a reversal would require a significant shift in market sentiment.
In summary, DOGE’s 65‑day run below the 20‑day moving average marks the longest bearish streak since 2013 and underscores a lack of retail participation. The token remains below key technical thresholds, with low derivatives activity and a long‑biased position profile. Unless the price can break above the 20‑day EMA or the Supertrend level, the current trend is likely to continue. The next major test will be whether DOGE can hold the $0.0700 demand zone or break through the $0.07977 resistance.
