Dogecoin (DOGE) has seen a renewed price crash by a significant 14% in the last 30 days, setting the meme coin up for a record fifth month of losses. The king of meme coins has stayed in the red since October 2025, when it dipped by a massive 20% below its monthly average.
Dogecoin underperformance grows
As per CryptoRank data, Dogecoin’s February average stands at -3.32%. The meme coin’s performance in the last 48 hours had sparked hopes of DOGE breaking the loss streak, which started in October. However, the recent broader crypto market plunge, which saw a 5.5% decline, has erased all hopes.
The crypto market decline saw Bitcoin, the leading digital asset to which Dogecoin is correlated, slip by 5.6%. DOGE followed and lost all the gains it recorded in earlier market trading.
As of this writing, Dogecoin is changing hands at $0.08802, which reflects an 8.84% decline in the last 24 hours. DOGE, which previously reclaimed the critical $0.10 price level, later dropped slightly to $0.09747. The recent bloodbath in the market has now pushed it to the current market price.
The meme coin’s performance indicates that February will close in the red just like the previous four months. Notably, Dogecoin’s monthly performance since October 2025 has been below the monthly average.
In November, DOGE closed -21.3% despite having a monthly average of 15.5%. In December 2025 and January 2026, the meme coin closed -19.9% and -11.3% compared to its monthly mean of 18.9% and 76.9%, respectively.
The quarterly outlook of Dogecoin is also very bearish. The meme coin had concluded the last three months of 2025 in the negative, hitting 50%. In the first two months of 2026, DOGE is down by 25%, and unless something happens in March, the meme coin is on a continued bearish path.
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Weak derivatives and poor ETF demand
The general outlook for Dogecoin does not inspire confidence. Investors monitoring the meme coin’s metrics observe that, beyond the price, open interest is also down as DOGE eyes max pain.
The technical signals suggest that Dogecoin might face an extended bearish run amid the current dip in the crypto market.
Institutional interest in Dogecoin has also not taken off as anticipated, as the exchange-traded fund (ETF) products have not gained traction. There appears to be a huge disconnect in the ETF as assets under management stay below $10 million as prices continue to stagnate below $0.10.