Dogecoin steadies near $0.070 as bullish divergence appears

Dogecoin is showing tentative signs of stabilization near the $0.070 level as of Tuesday, August 4, 2026, following a period of significant decline that pushed the memecoin to multi-year lows. While the broader technical trend remains bearish, emerging data from derivatives markets and key momentum indicators suggest selling pressure may be beginning to ease, setting up a potential inflection point for the asset.

The cryptocurrency traded near $0.070 after falling approximately 3.5% over the previous week and more than 10% over the past month. This decline brought DOGE near a critical support zone around $0.067, a level last seen in late 2023 and representing a roughly 90% drop from its all-time high. Despite the price weakness, derivatives traders are displaying growing optimism. The DOGE long-to-short ratio climbed to 1.25, its highest level in over a month, indicating more traders are positioning for a price increase than a decline. Concurrently, the funding rate turned positive on July 24 and remained so, standing at 0.0074, which typically reflects stronger demand for bullish exposure.

Technically, a bullish divergence has emerged on Dogecoin’s daily charts. While the price...