Dogecoin (CRYPTO: DOGE) fell to its lowest level in three years Thursday, even as DogeOS CEO Jordan Jefferson says the project's DeFi launch sits "very, very close" to going live.
Why DogeOS Thinks This Launch Changes What DOGE Can Do
Jefferson told The Block on a Wednesday episode of The Starting Block podcast that development on DogeOS version one is complete and audits have wrapped up, with the team's full focus now on reaching mainnet. However, he didn't give a concrete launch date.
DogeOS is building an EVM-compatible app layer for Dogecoin, designed to give DOGE holders more utility beyond payments and tipping.
"We all love Dogecoin, but there wasn't much to do other than buy it, hold it, send it to your friends and tip people, which is awesome," Jefferson said.
"But what if you could do more fun stuff?" He pointed to games and other earning mechanisms as early use cases, framing DeFi infrastructure as necessary for Dogecoin to become "money for more people."
Moreover, Jefferson said more than 100 builders are already working on projects, with wallet and exchange integrations a current priority.
The effort follows last month's launch of Dogecoin Labs, which brought together developers from DogeOS, the Dogecoin Foundation and House of Doge, an initiative Jefferson said aims to fund core developers rather than relying on donations indefinitely.
"Dogecoin is just too big to count on [donations] forever," he said.
Why Whales Are Buying Even as Price Breaks Down
Crypto commentator dogegod flagged that Dogecoin whales purchased another 1.8 billion DOGE, worth roughly $122 million, even as the token's chart deteriorated sharply.
Meanwhile, Dogecoin broke below long-term support near $0.0694 this week, returning to levels last seen around October 2023 and undercutting the base that supported its July-August recovery.
The breakdown leaves DOGE down roughly 15% over the past week, 21% over the past month, and 44.5% year to date.
Where DOGE Stands Technically
DOGE fell about 3% Thursday, after touching an intraday low of $0.0645. Price sits below all four declining EMAs, with the Supertrend indicator still flashing a strong sell signal.
Key levels for DOGE:
- $0.0645: immediate downside level, a sustained break could open the door to $0.060
- $0.074: 20-day EMA, the nearest resistance above that
Until DOGE reclaims the broken support zone, any bounce remains vulnerable to renewed selling.
