Dogecoin Price Drops 4% Following Weak Derivatives Market, Bears Target $0.091

Highlights:

• Dogecoin price has slipped 4% to $0.094, as the bearish grip builds.
• The derivatives data show a drop in open interest, suggesting a drop in investor confidence.
• The technical outlook shows further downside to $0.091-$0.088.

The Dogecoin price is still in the red zone, down 4% in the past 24 hours, to trade at $0.094. Meanwhile, the crypto market is experiencing a sell-off, reinforced by the fact that the US Federal Reserve is not intending to reduce interest rates. This has extended losses even in the dog-themed meme coin, as the derivatives market indicates a negative outlook. 

Meanwhile, on Wednesday, the Fed’s decision not to raise or lower interest rates has pressured the crypto market. Bitcoin (BTC), the largest cryptocurrency, dropped to $71,400, while the Crypto Fear and Greed Index fell to 33. This indicates that crypto investors are fearful in the market. 

⚠️SUMMARY OF FED FOMC STATEMENT:

1. The Fed voted 11-1 to keep interest rates unchanged at 3.75%, as expected.

2. FOMC member Stephen Miran voted for a 25bps cut.

3. The new ‘Dot-Plot’ continued to signal 1 rate cut in 2026 and 1 rate cut for 2027.

4. The FOMC statement said… pic.twitter.com/lspY1nGYyZ

— Jesse Cohen (@JesseCohenInv) March 18, 2026

Further, the market mood is steadily going down against Dogecoin, with falling prices in spot markets leading to forced closures of Dogecoin derivatives. According to CoinGlass data, $6.30 million of DOGE positions were liquidated in the last 24 hours. The longs have taken the lion’s share of $5.60 million, as the shorts take the rest, indicating continued growing bearish pressure.

In the greater number of liquidations, DOGE futures Open Interest is down by 7.73% to $1.06 billion. This shows a solid risk-off mood, despite its volume surging 16% to $2.73 billion.

Dogecoin Price Risks Further Downside to $0.091

The 4-hour DOGE/USD chart tells a cautious story. Dogecoin’s price outlook is still cloudy, as the bears take control of the market. After the recent dip, the dog-themed meme coin is trading below both the 50-day SMA at $0.0966 and the 200-day SMA at $0.0961. This reinforces the bearish grip in the market, as DOGE risks further downside.

If DOGE falls below the current level, the $0.091-$0.088 range becomes the last technical zone for the bulls to support. On the other hand, if the meme coin reclaims the immediate resistance around $0.096 (200-day SMA), the buyers may try to push the price back toward resistance at $0.0966 and then $0.10.

The technical indicators are showing an intense selling momentum in the DOGE market. To start with, the RSI is below the 50-mean level at 39.18, tilting the odds towards the bears. This suggests weak momentum but not yet oversold territory.​ The Moving Average Convergence Divergence is also in the negative region, reinforcing the selling pressure. The blue MACD line has crossed below the signal line, indicating that the negative momentum. 

Meanwhile, Ali Martinez, a popular crypto analyst, has predicted a potential rally to $10. According to Ali’s prediction, DOGE’s monthly chart is fractal and could soon bounce beyond $0.44, $1.70 to $10. 

Once you see this Dogecoin $DOGE fractal, you can't unsee it! pic.twitter.com/ML2zpQV1He

— Ali Charts (@alicharts) March 18, 2026

If Dogecoin price fails to reclaim the 200-day SMA, it may test lower supports, with $0.088 as a last line for buyers. Conversely, if the memecoin can hold above 0.096 and attract more big buyers, a rebound towards $0.0966-$0.10 is possible.