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▲ Dogecoin (DOGE)/ChatGPT generated image
Dogecoin (DOGE) has launched the DogeOS public testnet to enter decentralized finance (DeFi) and prediction markets. However, it is struggling to escape a downward trend, blocked by the psychological resistance level of $0.1. Despite the positive news of technical ecosystem expansion, the outflow of funds from spot Exchange Traded Funds (ETFs) and the stagnation of the memecoin market are combining to increase short-term downward pressure.
CoinCafe reported on October 1 that Dogecoin is undergoing a correction, failing to gain upward momentum despite the major positive news of the DogeOS public testnet launch. DogeOS is a core technology that introduces an Ethereum Virtual Machine (EVM) compatible layer to Dogecoin, enabling the creation of smart contracts, DeFi, and prediction markets. However, with the total market capitalization of memecoins plummeting from $76 billion in October 2025 to a recent level of $30 billion, the expectation of network functionality expansion is being overshadowed by a general slowdown in market enthusiasm.
Negative news also continued on the institutional supply and demand front. According to data compiled by financial information platform SoSoValue, the US Dogecoin spot ETF recorded a net outflow of $551,430 on September 30 alone. Although a total of $3.16 million flowed in during September, achieving the second-best monthly performance since January ($4.07 million), institutional funds began to exit at the end of the month, dampening the upward trend. Open interest also showed a decline, indicating a strengthening wait-and-see attitude among market participants.
In terms of technical indicators, a fierce battle between bulls and bears continues. The funding rate remains positive, confirming the intention to maintain long positions, but the long-to-short ratio stands at 0.90, indicating that accounts betting on a decline are still slightly dominant. The Relative Strength Index (RSI) points to 57, suggesting that momentum is in favor of buyers, but the Awesome Oscillator (AO) bars, a momentum indicator, are sending bearish warning signals, indicating a slowdown in upward momentum.
Experts predict that if Dogecoin fails to break past the $0.098 resistance level, it could fall to the $0.092 support level. If the downward trend intensifies further, there is a possibility of retreating to the $0.083 mark. For a short-term rebound, analysis suggests that it must break through the $0.098 supply zone and then establish itself above the $0.1 resistance level.
Dogecoin, which sought functional evolution through the release of DogeOS, has encountered strong resistance. Market attention is focused on whether it can defend the $0.092 support level and prove the effect of its technical upgrade through market price.
[Article Key Summary]
-Dogecoin (DOGE) fell, blocked by the $0.1 resistance level, despite the launch of the DogeOS testnet for DeFi and prediction markets.
-Over $550,000 flowed out of the Dogecoin spot ETF, and the memecoin market cap plummeted to $30 billion, adding to the downward pressure.
-Experts warned that if it fails to break the $0.098 resistance, it could fall to the $0.092 and $0.083 support levels.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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