Dogecoin Price Hits Lowest Since August as OKX Traders Pile Into Longs

Dogecoin costs around $0.0727 on Thursday evening, November 5, 2026, roughly €0.065. In the afternoon the price fell as low as $0.0710, its lowest level since August 19. What stands out is less the decline itself than the reaction in the derivatives market: on the OKX exchange, the ratio of accounts with a long position to accounts with a short position rose from 4.30 to 5.49 during the sell-off. With every cent the price fell, more traders bet on a recovery.

What the data shows: price, daily range, account ratio, open interest and funding rate come from the public market data of Kraken and OKX. Our assessment of what this positioning means for the coming days follows further down in a separate paragraph.

If you take a longer view of DOGE, you will find the scenarios for the coming months in our Dogecoin price prediction. This piece is about the day: what happened, how the derivatives market reacted and which levels matter now.

Dogecoin price on Thursday: from $0.0770 to $0.0710 in six hours

The day started quietly. At midnight (UTC), DOGE opened at $0.0770 on Kraken, and until midday the price swung between $0.0762 and $0.0770. From 1 pm German time it crumbled to $0.0757, and between 3 and 4 pm came the real slide to $0.0711. The daily low of $0.0710 was reached at around 7 pm. Since then DOGE has recovered slightly to $0.0727.

That leaves a loss of 5.6 percent since the start of the day. Measured against the 30-day high of $0.0939 on October 7, the decline is 22.6 percent. The last time DOGE closed a day lower than the current level was on August 18, at $0.0702.

Where the 200-day line sits

The 200-day line, the average of daily closing prices over the past 200 days, is at around $0.0858. DOGE is trading a good 15 percent below it. The 50-day line at $0.0853 and the 100-day line at $0.0822 are also well above the price. In chart terms, the downtrend that began in early October remains intact.

Nasdaq sell-off: DOGE falls in lockstep with Bitcoin

The trigger did not come from the Dogecoin world. Shortly after the Wall Street open, at 3:30 pm German time, chip stocks came under pressure, with some losing up to 11 percent. Our report on the Nasdaq sell-off and chip stocks traces how it unfolded. Bitcoin fell over the same period from just over $80,400 to a low of $75,420 and stands at around $76,075 in the evening, down 5.4 percent since the start of the day.

At 5.6 percent, DOGE lost almost exactly as much. Measured against Bitcoin, one Dogecoin now costs 95.5 satoshi, after 96 satoshi on Wednesday. The ratio has barely moved. For the dollar price, that means the decline is mostly a market decline rather than a problem specific to Dogecoin. A recovery therefore depends heavily on whether Bitcoin holds the zone around $75,500. Why BTC fell so far is explained in our analysis of the Bitcoin drop to $75,568.

Long/short ratio on OKX: 5.4 accounts betting on a rise

The long/short account ratio counts how many accounts with an open DOGE position are betting on rising prices, relative to the accounts betting on falling ones. It counts heads, not money: an account with $50 at stake weighs exactly as much as one with five million.

On OKX, this figure for DOGE contracts stood at 4.30 at midday on Thursday. While the price fell between 1 pm and 7 pm German time, it climbed hour by hour, to 4.90, then 5.11, 5.31 and a peak of 5.49. In the evening it stands at 5.40. As a daily value, OKX reports 5.41, the highest since August 6, when it reached 5.53. For comparison: in mid-October, when DOGE was still trading above $0.08, the ratio mostly ranged between 3.2 and 3.8.

The move is clear. With every step lower, more accounts opened a long position or closed their short. In trading jargon, the pattern is called buying the dip.

Open interest measured in DOGE: hardly any positions were closed

Open interest is the value of all open futures contracts, meaning all positions that have not yet been closed out. According to OKX, it fell for DOGE from $120.6 million on Wednesday to $114.2 million on Thursday, a decline of 5.3 percent.

That sounds like a retreat, but it hardly is one. The price fell 5.6 percent over the same period. Converted into Dogecoin, the holdings remain almost unchanged at around 1.57 billion DOGE. Traders did not unwind their positions; the dollar value simply shrank with the price. At the same time, trading volume in DOGE contracts on OKX came to $260 million, on a par with election day and well above the $73 million to $128 million of the weekend.

Why this matters

A sell-off that clears out the market usually shows up as falling open interest measured in coins: leveraged positions are forcibly closed, and afterwards there is less pressure in the system. There was little sign of that on Thursday. The positions are still there, and according to the account ratio, most of them are positioned for rising prices.

Negative funding rate: the capital sits on the other side

The funding rate is a balancing payment between long and short traders in perpetual futures, known as perpetuals. The payment keeps the contract price close to the spot price. If the contract trades above spot, longs pay shorts; if it trades below, shorts pay longs. OKX settles it every eight hours.

The most recently settled rate for the DOGE contract on OKX was plus 0.0048 percent. For the current period, the exchange shows minus 0.0018 percent, with the contract at a discount of around 0.027 percent to the index. The values are small. But the direction does not fit a market in which five times as many accounts are long as short.

The contradiction disappears once you separate the quantities. The account ratio measures how many traders stand on each side. The funding rate reflects which side has more capital pushing. Many small long accounts can face a smaller number of large short positions. OKX does not publish which accounts are behind them. The data only allow the conclusion that the majority of heads and the majority of capital do not currently expect the same thing.

cryptoticker.io compiled this analysis itself on November 5, 2026. It is based on 180 daily and 24 hourly values of the long/short account ratio, 180 daily values of open interest and the funding rate from OKX's public contract data, plus 721 daily candles and 24 hourly candles of the DOGE/USD price from Kraken.

What changed since Wednesday: the $0.0724 support has broken

Our article from Wednesday, Dogecoin price against Bitcoin at 96 satoshi, had DOGE at $0.0775 and placed support at $0.0724, the low of election night. That level did not hold on Thursday afternoon. The price fell to $0.0710 and now sits just above it, around 6.2 percent below Wednesday's level.

The ratio to Bitcoin, by contrast, held: 95.5 instead of 96 satoshi. The weakness against BTC that was the focus on Wednesday did not worsen on Thursday. What is new is the positioning in the derivatives market, which has not looked like this since August.

Dogecoin price levels: $0.0710, $0.0702 and $0.0690 on the downside

The first level on the downside is the daily low of $0.0710. Below that are the August 18 daily close at $0.0702, the August 19 low at $0.0698 and finally the lowest daily close of the past twelve months, $0.0690 on August 6. The zone between $0.069 and $0.070 is therefore the most important support on the chart. If it breaks, there is no further support on the daily chart of the past twelve months based on closing prices; the intraday low on July 23 was $0.0673.

On the upside, the old support at $0.0724 is now the first hurdle, and the current price is sitting right on it. Next comes the daily opening price of $0.0770, where the slide began. Only above that would Thursday's decline be recovered. The 100-day line at $0.0822 is a long way off.

Leverage on DOGE: where a 20x long would now be liquidated

A liquidation is the forced closure of a leveraged position when the posted collateral no longer covers the losses. How close it lies depends almost entirely on the leverage. A rule of thumb with a typical maintenance margin of 0.5 percent shows the order of magnitude for a long opened at today's price of $0.0727:

• 5x leverage: liquidation at roughly $0.0585, almost 20 percent lower.
• 10x leverage: at roughly $0.0658, below every level of the past year.
• 20x leverage: at roughly $0.0694, right in the middle of the support zone around $0.069 to $0.070.

The third point is the delicate one. If DOGE falls into this zone, buyers betting on the support will run into forced selling from highly leveraged longs. The more accounts are long, the more such selling can be triggered there. Each exchange calculates the exact values differently; before placing an order, the trading screen shows the specific liquidation price. Our overview of the best perp exchanges compares which providers offer perpetuals with low fees and clear margin rules.

If you hold DOGE without leverage on an exchange or in your own wallet, you cannot be liquidated. For spot purchases, spread and fees are worth a look; our comparison of crypto exchanges shows which platforms authorised in Germany list DOGE.

Dogecoin losses: when the German tax office lets you offset them

If you sell DOGE at a loss within one year of buying it, you can use that loss for tax purposes. Private sales transactions under Section 23 of the German Income Tax Act form a separate pot: losses from them can be offset against gains from other crypto sales within the one-year period, but not against employment income or stock gains. If a loss remains at the end of the year, it is assessed on request in the tax return and carried forward to later years.

The €1,000 exemption limit is important. If gains from private sales in a year stay below it, they remain tax-free; above it, the entire amount is taxable. A realised loss can therefore push a gain below this limit. After a holding period of more than one year, a sale is tax-free, but a loss then no longer counts either. If you have many purchases at different prices, one of the crypto tax tools helps you keep track of purchase dates and deadlines.

Our assessment: a crowded long market is not a bottom

Our assessment: Thursday's positioning argues against a quick bottom. Three things are established. At 5.41, the long/short account ratio on OKX is at its highest since August. Open interest measured in DOGE has barely shrunk despite the decline. The funding rate is slightly negative. In futures markets, a bottom often forms when leveraged buyers give up and open interest falls. That has not happened yet.

What argues against it: DOGE did not fall on Thursday out of its own weakness, but together with Bitcoin and tech stocks. The ratio to BTC stayed stable. If Bitcoin steadies above $75,500 and the Nasdaq calms down, DOGE could also climb back to $0.0770 without a major shake-out. The data show an imbalance, not a direction. This view assesses the situation and is not a recommendation to buy or sell; with cryptocurrencies, a total loss is possible.

Dogecoin at $0.0727: only above $0.0770 does the picture turn

1. Decide whether you hold DOGE with or without leverage. Without leverage, what counts is the spot price on an authorised platform, which you can find in the exchange comparison.
2. If you trade futures, check your liquidation price against the $0.069 to $0.070 zone. If it falls inside, your buffer is too small; providers' fees and margin rules are listed in the overview of perp exchanges.
3. Record the purchase date and price of every position. A sale at a loss within one year can push gains below the exemption limit; the tax tools work it out for you.

(As of November 5, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)