Dogecoin Price Targets $0.10 as DOGE Selling Pressure Eases

Dogecoin price slipped 1.44% on September 8, trading near $0.089 as broader market uncertainty weighed on cryptocurrencies. Despite the decline, DOGE is showing signs of easing selling pressure while maintaining a potentially bullish cup and handle pattern.

CoinGlass data showed Dogecoin recorded $2.92 million more buying volume than selling volume on September 8. Buy-side activity exceeded selling across tracked exchanges, with Binance alone registering approximately $3.09 million in net buy-side flows.

The derivatives market also points to continued bullish positioning. Dogecoin’s weighted funding rate stood at a positive 0.0053%, indicating that traders holding long positions continue to outweigh shorts.

However, futures activity has cooled. Dogecoin open interest fell 3.36% to $1.36 billion as long liquidations increased. Around $4.94 million worth of DOGE long positions were liquidated over the past 24 hours, according to CoinGlass.

Institutional demand has also weakened. SoSoValue data showed Dogecoin ETFs recorded $343,580 in net outflows during the week from August 31 to September 4, ending two consecutive weeks of inflows.

The ETF withdrawals come as investors assess uncertainty surrounding the Federal Reserve’s September 16 policy meeting. Prediction market data indicates 52% of participants expect the Fed to raise interest rates by 25 basis points. Crypto market sentiment has also softened, with the Fear and Greed Index declining from 74 on September 4 to 69 on September 8.

Technically, Dogecoin remains within a cup and handle formation on the four-hour chart. DOGE faces immediate resistance around $0.091. A confirmed breakout above this level could open the door to a roughly 12% advance toward the psychologically important $0.10 mark.

The Relative Strength Index stands at 54, suggesting momentum still slightly favors buyers, although weakening RSI signals indicate bulls lack strong conviction. Meanwhile, narrowing Bollinger Bands point to declining volatility.

If DOGE fails to clear $0.091 quickly, the meme coin could continue consolidating between approximately $0.089 and $0.091 before determining its next major direction.