Dogecoin traded quietly on Sunday as spot and derivatives activity cooled, with volume down 24% to $703.75 million and derivatives down 23% to $1.61 billion. An unusual futures netflow drop occurred within an eight-hour window, with inflows totaling $72.10 million but outflows of $99.51 million. The netflow drop stood at a substantial negative 100,456.56%. Open interest for Dogecoin remained positive, rising 3.93% over the last 24 hours, while overall open interest in major cryptocurrencies declined in the same period.
The combination of a negative netflow spike and rising open interest suggests traders are weighing risk as weekend action concludes. Traders appear to be on the defensive as Dogecoin’s price has fallen for a fourth day since March 4. At the time of writing, DOGE traded around $0.088, down 2.27% on the day and 4.73% for the week. Price action in the broader crypto market has been driven more by macro narratives than by new catalysts, leaving investors uncertain.
Analysts say that if $0.088 holds as support, a rebound could target $0.103 near the 50-day moving average, with potential resistance at $0.117. A break below could open the door to deeper support around $0.079.
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