Dogecoin Price Drops to $0.086 on Leveraged Long Position Unwinding

Dogecoin fell to $0.086 on September 10 after losing 4% over the previous 24 hours, as leveraged long positions unwound and selling pressure increased.

The largest meme coin failed to break through its 200-day exponential moving average of $0.0964, a level that had previously acted as significant resistance.

This failure led to a notable rejection near the mentioned resistance level, causing further declines in Dogecoin's price.

Analysts identified the key immediate support for DOGE at the $0.082-$0.084 range, with a drop below this zone potentially exposing the psychologically important $0.08 mark, where over 30 billion DOGE tokens have historically been traded.