Dogecoin Struggles While Meme Coins Fade
Recent data shows that the share of meme coins in the altcoin market has slipped, falling from 0.042 in mid‑February to 0.034 by March.
Solana, once the go‑to network for meme coin traders, now sees very low activity. Daily users on its decentralized exchanges are down to only a few thousand, a sharp drop from the millions that once traded there. One analyst described the chain as a “ghost town.”
Dogecoin’s price has fallen almost 80 % from its October peak of $0.48 to around $0.09 today. Technical tools such as the Supertrend and Parabolic SAR both sit above the current level, indicating that sellers still dominate. The coin has been moving sideways in a narrow range for weeks, possibly forming a new support base.
Despite the falling trend, trading volume has jumped by 61 % to about $2.28 billion, showing that interest is returning. Open interest stands at $1.06 billion and the long/short ratio on Binance is 2.45, meaning more traders are betting that Dogecoin will rise than fall.
- Main support level: $0.088
- Resistance levels: $0.0997 and $0.1044
A clear move above $0.10 would change the technical outlook to bullish for the first time in months.
Global tensions, especially between the U.S. and Iran, keep investor sentiment fearful, pushing money into safer assets. This environment makes a meme coin rally unlikely, yet the growing derivatives positions suggest that some traders believe a reversal could happen.
