Dogecoin price hits lowest level since October 2023 as longs lose $7.7 million

The Dogecoin price slipped to $0.063 on Friday and traded at around $0.0651 at midday, 3.1 percent lower than 24 hours earlier. The decline hit leveraged traders hardest. Within a day, leveraged long positions on Dogecoin worth about $7.7 million were forcibly closed, according to Alpha Finance data published on Friday morning by the industry site CoinCentral. Short liquidations came to only about $349,000.

What is established: DOGE is trading at its lowest level since October 2023, the futures market remains positioned mostly for rising prices despite the losses, and the MyDoge wallet app is rolling out an interim release ahead of a larger update at the weekend. Our assessment follows further down. As long as buyers do not return to the spot market, there is little to suggest a quick recovery.

Dogecoin price on Friday: daily low of $0.063, the lowest since October 2023

Over the past 24 hours the range ran from $0.0631 to $0.0671, according to CoinGecko data. Over seven days Dogecoin has lost 9.9 percent, over 30 days 23.4 percent. Its market capitalisation is around $10.2 billion.

How deep that is shows up in our own analysis of weekly candles for the DOGE-USDT pair on the OKX exchange since February 2021. A weekly low of $0.063 or below last occurred in the week around October 22, 2023. The low then was $0.0607, and two weeks earlier $0.0562. On Tuesday DOGE still stood at $0.067, the level of November 2023, so in three days the price has fallen back by another month of price history.

The move is not isolated. Bitcoin fell 5.7 percent on Friday to around $69,250, and Ethereum lost 4.7 percent to just under $1,951. Across the crypto market, between $1.2 billion and $1.4 billion of leveraged positions were liquidated, depending on the time window, according to figures from CoinGlass and crypto.news. The alternative.me Fear and Greed Index dropped to 20 points on Friday, into "Extreme Fear" territory, from 28 points the day before.

Long liquidations: $7.7 million against $349,000 for shorts

A liquidation is the forced closure of a leveraged position by the exchange. It kicks in when the collateral posted, the margin, no longer covers the losses. Anyone betting on rising prices with leverage, in other words holding a long, loses all or most of their stake.

Friday's ratio is stark: for every dollar of liquidated shorts there were just over $22 of liquidated longs. That adds to the selling pressure, because every long that is forcibly closed is a sale on the futures market. If several liquidation prices sit in the same zone, a chain of liquidations can follow and push the price down faster than spot selling would on its own.

The losses hit traders who had bet on a rebound after the previous week's weakness. Technically the market was already oversold: CoinCentral cites a relative strength index of 26.2 on the daily chart. The RSI measures on a scale of 0 to 100 how one-sided recent price action has been, and readings below 30 count as oversold. Such a reading only says that the downward pressure was unusually strong. It does not signal a turnaround.

OKX futures market: funding negative, more than four in five accounts long

Public data from the OKX exchange offer a second view of the same situation. The funding rate of the DOGE-USDT perpetual contract stood at minus 0.0069 percent per eight-hour period at midday on Friday. The funding rate is a balancing payment between the long and short sides that keeps the contract price close to spot. When it is negative, shorts pay longs because the contract trades below the spot price. Our overview of funding rates shows how the figure is distributed across coins and exchanges.

Even so, most accounts remain positioned for rising prices. The ratio of accounts with long positions to those with short positions on OKX was 4.62 as of Thursday, meaning around 82 percent of accounts were betting on a higher DOGE price. The measure counts accounts, not volume: many small longs face a few large shorts.

That distribution explains why the liquidations were so one-sided. As long as this many accounts are long, there is still liquidation volume below the price that a new low could trigger.

Dogecoin since Thursday: open interest down from $83.4 million to $79.3 million

On Thursday we looked at the Dogecoin price at $0.065 and the upcoming DogeOS launch. At the time, support at $0.065 was being tested, and DOGE contracts worth $83.4 million were open on OKX. Three things have changed since then.

First, the $0.065 level broke during the day, and the new low is $0.063. Second, open interest, the value of all open contracts, has fallen to around $79.3 million on OKX (as of Friday midday). Some positions were closed or liquidated. Third, sentiment across the market has turned: the gap between the price and its moving averages has widened. By our calculation from CoinGecko daily closes, the 20-day average stands at $0.0731, the 50-day average at $0.0816 and the 200-day average at $0.0847.

What has not changed: there is still no launch date for DogeOS, and Wednesday's announcement by chief executive Jordan Jefferson brought no buyers to the price.

Support and resistance: $0.060 and $0.0575 below, $0.068 above

CoinCentral identifies an immediate support zone for the Dogecoin price between $0.063 and $0.065. The daily close is what counts: the $0.063 low was reached intraday, and a close below it has yet to happen. If DOGE closes below $0.063, the next levels according to CoinCentral are $0.060 and $0.0575. The zone around $0.056 to $0.057 matches the October 2023 weekly lows from our OKX analysis.

On the upside, the former support at $0.068 has become the first resistance. Above that comes the zone from $0.072 to $0.075, which also contains the 20-day average, and the October level of $0.0792. Only above the 50-day average at $0.0816 would the downtrend formally be broken.

How tight the situation is seen shows in a comment from analyst Sjuul of the AltCryptoGems channel. He wrote on X on Thursday that DOGE had recently been a big disappointment, was unable to break any relevant structure and was moving in a very clean downtrend. As long as that does not change, he expects a new lower low sooner or later. That is his view, not a forecast by our editorial team.

Liquidation price explained: at 10x leverage, just over nine percent is enough

How quickly leverage tips over can be roughly estimated. On a 10x long on DOGE from $0.0651, the posted margin covers a price drop of about ten percent. Because exchanges also require a maintenance margin, the liquidation price is usually a little higher, around $0.059 in this example. That roughly matches the $0.060 level that CoinCentral names as the next support. At 5x leverage, the threshold sits roughly 19 percent below the entry.

For retail investors in Germany, leverage on cryptocurrencies is capped for contracts for difference: the European Securities and Markets Authority ESMA and Germany's BaFin allow retail clients a maximum leverage of 2:1 on crypto CFDs. Much higher leverage is available on futures exchanges and decentralised platforms for perpetual contracts. No comparable protection applies there, and a total loss of the stake is possible within minutes.

Anyone holding DOGE on the spot market without leverage, by contrast, cannot be liquidated. A price drop remains a paper loss as long as you do not sell. Which providers offer Dogecoin without leverage and with EU authorisation is shown in our comparison of crypto exchanges. Before you trade, check the ESMA register to see whether the provider holds a licence under the European crypto regulation MiCA.

MyDoge wallet: interim update fixes a BTC bug, version 3.1.2 follows at the weekend

Besides the price, there is technical news for holders who keep DOGE in an app. The MyDoge wallet, part of the Dogecoin Labs group of companies, rolled out an interim update on Thursday. According to chief technology officer Alex, it fixes errors when swapping and sending bitcoin in the so-called Classic Wallet. The site U.Today reported this, citing his post on X. The full version 3.1.2 is due out at the weekend.

According to the announcement, no separate download is needed: closing and reopening the app is enough. Afterwards, the settings under "About MyDoge" should show version 3.1.1-652.1 or 3.1.1-652.2. The bug affected the app's bitcoin functions, not the custody of DOGE itself.

An update is a good moment to check your wallet backup. The recovery phrase does not belong on your smartphone but on paper or a metal plate. Larger holdings are safer on a device that is not permanently connected to the internet. Which devices support Dogecoin is shown in our hardware wallet comparison.

Anyone who bought Dogecoin a year ago, on November 14, 2025, at around $0.164, the highest daily price of the past twelve months according to CoinGecko, is now roughly 60 percent down. How such losses are treated for tax purposes depends on where you live; our crypto tax software comparison lists tools that import DOGE transactions.

Our assessment: without spot buyers, the floor is missing

Our view: Dogecoin's position is weaker than bitcoin's, and the data suggest the pressure will persist for now. Three pieces of evidence point that way: the low at the October 2023 level, the one-sided liquidations of $7.7 million in longs, and the fact that around 82 percent of OKX accounts are still long. A market in which so many accounts are still betting on rising prices has further liquidation volume below the price.

Against this stand the oversold RSI of 26.2 and the negative funding rate. Both often appear before countermoves, because shorts become expensive and sellers run out of steam. That is no guarantee. In our view, the decisive question is whether DOGE holds a daily close above $0.063. If it does not, $0.060 and $0.0575 come into focus.

This assessment is not a recommendation to buy or sell. Dogecoin has no cap on its supply and is highly volatile; a total loss is possible with any cryptocurrency.

DOGE below $0.065: from $0.063, every daily close counts

1. Check your leverage: if the liquidation price of an open long is above $0.060, a drop to the next level is enough. If you want to stay in DOGE, you can switch to the spot market without leverage; providers with EU authorisation are listed in our comparison of regulated crypto exchanges.
2. Update your wallet: MyDoge users should check for version 3.1.1-652.1 or 3.1.1-652.2 and install 3.1.2 at the weekend. Larger holdings belong on a device from our hardware wallet comparison.
3. Record your purchase date: if you bought in November 2025, note the purchase date and entry price of each position so that losses remain documented. Tax tools with DOGE import are listed in our crypto tax software comparison.

(As of November 13, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)