Dogecoin Price Crashes 6% Today: What Happened?

Updated

January 30, 2026

Gambar Dogecoin Price Crashes 6% Today: What Happened?

Jakarta, Pintu News – Dogecoin token is trading at $0.1100 today, down more than 60% from its high in September last year.

The main reason for Dogecoin’s current weakness is that the crypto market is experiencing a sharp decline, as investors begin to shift their focus to other better-performing assets such as gold and silver.

Dogecoin price drops 6.23% in 24 hours

On January 30, 2026, the price of Dogecoin recorded a decline of 6.23% in 24 hours, trading at $0.1142 or equivalent to Rp1,926. In the last 24-hour period, the DOGE price moved in the range of Rp2,054 to Rp1,909.

As of writing, Dogecoin’s market cap stands at around IDR 324.54 trillion, with a trading volume of around IDR 33.68 trillion in a 24-hour period.

The causes of Dogecoin’s decline

According to a Crypto News report, there are indications that demand for Dogecoin has started to decline in recent months. Based on data from SoSoValue, ETFs managed by Grayscale, Bitwise, and 21Shares have recorded no inflows in the past two days.

The three funds only added $4 million in assets this month and now have a total holding of $10.9 million – a paltry 0.05% of their market capitalization. Wednesday’s trading volume was also only $170,000.

The Dogecoin ETF lags behind other altcoin funds. For example, the Chainlink spot ETF recorded inflows of over $73 million and has assets worth $86 million. Meanwhile, spot ETFs for XRP and Solana recorded inflows of $1.26 billion and $884 million, respectively.

Dogecoin has also lacked any major catalysts or drivers in recent months. Previously, its performance was mostly driven by big narratives such as Elon Musk’s tweets and crypto market rallies. However, such narratives haven’t happened again recently.

Meanwhile, trading volumes and open interest in the futures market have also continued to decline in recent weeks. According to data from CoinGlass, the value of open interest in the futures market decreased to $1.4 billion from this year’s peak of $2 billion. Trading volume in the last 24 hours also dropped to $1 billion.

Technical Analysis of Dogecoin Price

On the daily time frame chart (1/29), it can be seen that the Dogecoin (DOGE) price has experienced a strong downward trend in recent months. The price dropped from a high of $0.3060 on September 13 to a low of $0.1162.

A closer look reveals that Dogecoin is forming a large falling wedge chart pattern, characterized by two descending trend lines that are approaching each other.

In addition, DOGE also formed a double bottom pattern at $0.1162 with aneckline around $0.1560, which is its highest level this month.

As such, the most likely scenario is for a rebound to occur as long as the price stays above the key support level at $0.1162. If the price manages to break above this area, there is potential for further upside to around $0.200.

However, if the price drops below the double bottom level of $0.1162, then the bullish outlook will be canceled and open the possibility of a further decline towards $0.100.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

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