Dogecoin Active Addresses Dive 78% – Is DOGE Finally Going Below $0.09?

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Oh, dear Dogecoin (DOGE), what’s happening to you? Once a beloved memecoin, now struggling to hold onto its dignity as geopolitical tensions flare up and the price continues to take a nosedive.

Following Israel’s latest geopolitical escapades, Dogecoin decided to embrace the bear market, rejecting resistance at $0.106 and sinking into the abyss. For three consecutive sessions, DOGE has found itself in the unfortunate position of closing lower and lower. A true tale of “downward spiral,” it seems.

After rejecting the $0.106 mark, the once-mighty DOGE has dropped like a rock into the $0.088 range, proving that even memes have their bad days. And let’s not forget the 20-day EMA – that too was crossed, suggesting that this is more than just a fleeting hiccup. It’s a full-on dive.

At the time of writing, DOGE is trading at $0.089, down a dismal 10.48%. The bearish trend marches on with no sign of slowing down. Will it rise from the ashes? Spoiler: Probably not. But let’s see.

On-chain activity plummets 78%

So, why the relentless drop? Well, for starters, Dogecoin’s on-chain activity has fallen off a cliff. And when memecoins lose their social media buzz, they start to resemble a slightly less fun version of Monopoly. According to Santiment’s data, the number of daily active addresses (DAA) has plummeted by a staggering 78%. A real “who’s left to play the game?” moment.

At this very second, the Price DAA Divergence has dipped to a two-month low of -46%. Translation: nobody is really using the network, and those who are, well, they might just be trying to sell off what little they have left. Fewer active users means fewer memes, and that, my friend, is not good for Dogecoin.

fewer people are using Dogecoin. Much fewer.

Most traders have either sold out or are quietly waiting for something (anything) to spark a rally. But alas, as it stands, it’s a ghost town.

Sellers Totally Dominate the Market

Amid the rising tensions in the world and a general crypto market free-for-all, Dogecoin’s price has found itself buried under an avalanche of selling. Sellers are not just dominating; they’re practically running the show.

On the Futures side, it’s even worse. DOGE saw a major sell-off with $736 million flowing out, compared to a measly $659 million in inflows. The Futures Netflow plummeted 418% to a sad -$77.39 million. No, this isn’t a typo. It’s a massacre.

As sellers take over, exposure to DOGE is shrinking. Investors are nervous, perhaps fearing more losses. When the price falls below $0.09, the liquidation rate goes wild. In fact, Dogecoin saw $6.5 million in Long position liquidations, including $3.3 million in just four hours. If this isn’t a market in panic mode, I don’t know what is.

Meanwhile, on the spot market, the sell volume dwarfed the buy volume, hitting 976.75 million in sell orders versus 928 million in buys. This led to a negative Buy Delta of -48 million. That’s just a polite way of saying: “Sellers are winning, and it’s not even close.”

When sellers dominate, prices fall, like a lead balloon. Don’t expect any surprises here. Just buckle up for a bumpy ride.

What’s Next for DOGE?

As the selling pressure continues, the fundamentals of Dogecoin have weakened, leaving it dangerously exposed. The Directional Movement Index (DMI) has jumped to 54, while the positive index is barely hanging on at 28. These momentum indicators scream “bearish,” suggesting that things are not looking up anytime soon.

If the market continues its sell-off, DOGE could easily slide to $0.0800. But hey, if Dogecoin wants to turn things around, it needs to close above its 20- and 50-day EMAs. And if that happens, there might still be a glimmer of hope. But it’s a big “if.”

In the meantime, DOGE’s best bet is to huddle up, hold tight, and maybe hope for a miracle.

Final Summary

  • DOGE dropped 10.48%, breaching $0.09 support, hitting a low of $0.088. A rough day, really.
  • Dogecoin’s downtrend continued amid intense selling pressure and weakened on-chain activity. Welcome to the meme apocalypse.

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2026-02-28 13:59