Dogecoin Price Falters Below Key Level Amidst Cryptocurrency Market Decline

The cryptocurrency market has kicked off the week on a bearish note, with major assets showing losses. Bitcoin's price has dropped below $81,000, while Ether risks losing the $2,300 support level. The decline in prices is also affecting memecoin prices, with Dogecoin being no exception.

Dogecoin's price slipped below $0.1000 despite strong retail interest in the leverage market. The futures open interest has increased by over 7% in the last 24 hours to $1.58 billion, indicating a rise in active leverage-based positions. This is a bullish sign for Dogecoin, as it suggests that traders are willing to take long positions at a premium.

However, if the price fails to close above key resistance levels, it could attract buyers and maintain its bullish structure. The 100-day EMA at $0.1056 and the 50-day EMA at $0.1016 act as immediate support for Dogecoin's price. A decisive candle close below these levels would be expected to attract more buyers.