Dogecoin (DOGE) is currently trading at $0.09608 as of February 7, 2026, down 0.15% over the past 24 hours, with trading volume of $1.79 billion, a 55% decline from the previous day. Over the last week, DOGE has fallen roughly 10.6%, continuing a prolonged bearish trend.

DOGE Forms Descending Channel

In X post, Crypto analyst Jonathan Carter noted that DOGE is forming a descending channel on the 3-day chart, with lower boundary support historically attracting buyers. “This support zone has proven reliable, and if it holds, DOGE could rebound toward $0.37–$0.47 resistance levels,” Carter said. 

The 50-period moving average sits above current prices, maintaining a cautious short-term outlook. Volume clusters near support may provide temporary buying pressure.

SpaceX Eyes Moon Mission Funded by Dogecoin

Elon Musk reignited interest in Dogecoin on Tuesday, indicating SpaceX could place the cryptocurrency “maybe next year” on the moon, revisiting a 2021 pledge. The announcement coincides with xAI recruiting a crypto specialist to train AI systems on digital asset markets.

Despite Musk’s statement, DOGE remained near $0.11, down roughly 60% over the past year. Analysts suggest Musk’s influence on DOGE price has weakened compared to previous cycles. SpaceX’s DOGE-1 mission, fully funded in Dogecoin, remains scheduled to launch aboard a Falcon 9 rocket, highlighting ongoing corporate ties to the token.

The xAI posting seeks experts to produce AI training data on trading strategies, DeFi protocol analysis, and risk management. Candidates must demonstrate proficiency in Dune Analytics, Glassnode, Nansen, and DefiLlama, with pay ranging $45–$100 per hour.

This recruitment follows the February merger of SpaceX and xAI, valued at an estimated $1.25 trillion, combining AI infrastructure with SpaceX’s Starlink satellite network. Industry experts, including Sumit Gupta of CoinDCX, note this move could position Musk’s ventures at the forefront of AI and blockchain integration.

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