Dogecoin Surges on Short Squeeze Toward $0.10
Dogecoin (DOGE)
Editor:
Eugene Serbin
Dogecoin jumped 4.87% in 24 hours to $0.0902, sharply outperforming Bitcoin and the broader crypto market, according to bitcoinethereumnews.com. The move came as leveraged DOGE positions unwound, pushing the meme coin higher during a sharp derivatives-driven rally. Open interest surged 8.5% within one hour, reaching $282 million as short positions faced forced liquidations.
Technical signals added support, with DOGE forming a golden cross on its hourly chart and a morning doji star pattern on its daily chart. Alex Marzell tracked the recovery, noting DOGE held around $0.083 through six flat four-hour candles before a sharp breakout. He observed that one 4H candle ripped from $0.0876 to $0.0952 straight back through $0.088.
Marzell identified $0.088 as former resistance that could now serve as support, with $0.095 as the next target. Other developments include DOGEOS, an EVM-compatible layer using DOGE for fees, and the targeted launch of DOGE-1 this month. Traders now face a key test around $0.088, while $0.0813 remains an important support level. The wider crypto market rose 0.87%, leaving DOGE among the stronger performers during the session.
How the market reacted
Whalio's own Binance spot order flow for DOGE, measured when this story was written up on 6 September 2026. Not the outlet's figures.
Whalio spot data shows DOGE trading at $0.08969 with a 1-hour buy ratio of 54.6% and a 4-hour buy ratio of 55.9%. These short-term ratios are higher than the 24-hour buy ratio of 52.5%, indicating that buying pressure is building in the immediate term. The 1-hour volume delta is positive at $220,940, while the 4-hour delta is +$873,026, showing net inflows over these periods. This positive delta means that buy volume exceeded sell volume, driving the recent price action. However, the 24-hour CVD closed at -$2,960,725, suggesting that over the full day, sell volume ultimately outweighed buy volume. Spot volume for the period was $116,943,811 across 812,717 trades.
The latest daily buy ratio of 37.6% sits at the 0th percentile of the last 322 days, against a median of 48.9% - among the weakest buying days it has had.
Was that an ordinary day?
The same Binance spot measurements for DOGE, averaged over the days leading up to the story.
Over the preceding week, the 7-day average buy ratio was 49.3%, making the current 24-hour ratio of 52.5% an unusual day with +3.2 points above average. Volume was 2.10x the average, indicating significantly higher activity than normal. This compares to the weekly volume delta of +$502,111, which is lower than the single-day 24-hour delta of +$5,965,259. Price changed +5.2% over the 8-day period, with only 3 of 7 days showing net buying. This suggests that while the recent surge is notable, the broader weekly trend has been mixed with more days of selling than buying.