Dogecoin is trading near $0.077, holding firmly above the critical $0.075 support zone, as a wave of positive sentiment swept across the crypto market following comments from President Donald Trump. Speaking at a press conference on Monday, Trump declared, “I’ve become a big crypto guy, I’m a fan,” adding that the industry is “very powerful” and “huge.” The remarks helped Bitcoin recover from an earlier dip and lifted the total crypto market cap by 1.04% to $2.19 trillion.
On-chain data reveals robust activity behind Dogecoin’s recent price action. Crypto analyst Ali Charts noted that the Dogecoin network saw nearly 50,000 active addresses, a level often associated with renewed user engagement. Whale wallets holding more than 1 billion DOGE increased their collective balance to 73.85 billion tokens, signaling accumulation. While whale transactions cooled to 12 on Sunday, the overall balance growth is viewed as a bullish signal.
Derivatives figures from Coinglass showed DOGE trading volume jumped 31% to $1.26 billion, though open interest dipped 0.32% to $1.04 billion, suggesting that new leveraged positions are not yet flooding in. Technical indicators present a mixed but supportive picture: the Relative Strength Index (RSI) stands near 51.52 (neutral), while the Chaikin Money Flow (CMF) at 0.08 indicates steady capital inflows.
Analyst Jesse Peralta highlighted that DOGE is holding within a long-term rising channel, with immediate support at $0.075–$0.076. If bulls defend this zone, the next targets lie at $0.081, $0.090, $0.10, and $0.12. A breakdown below $0.075 would shift focus to $0.070–$0.068. Meanwhile, analyst Celal Kucuker observed that Dogecoin has broken its long-term descending trendline and is now retesting it; a successful retest could flip the line into support and accelerate a move toward $0.12. Ali Charts also pointed to a TD Sequential buy signal on the monthly chart near $0.077, often interpreted as a sign of trend exhaustion after prolonged weakness.
Trump’s endorsement, combined with rising network activity and whale accumulation, has injected fresh optimism into the meme coin, positioning it for a potential breakout if broader market conditions remain favorable.
