Dogecoin is trading near $0.078–$0.08 after another weak session, with price down about 2.45% over 24 hours, according to Brave New Coin. The meme coin has already broken a long-running descending trendline that had capped price since its 2024 peak, but follow-through has been underwhelming and DOGE remains inside a broader accumulation zone between roughly $0.07 and $0.10.
On-chain data from Santiment shared by Ali Charts shows whales increased their balances from about 55.60 billion DOGE to 56.21 billion DOGE between October 12 and October 16, adding around 600 million tokens near the $0.08 support area. This suggests larger holders are accumulating during weakness rather than chasing price higher. However, spot market data from CW8900 shows the opposite: roughly $58.73 million in net outflows over 24 hours, about $92.24 million over one week and close to $208.56 million over 30 days.
Technically, bulls need to defend the $0.078–$0.08 support zone. A bullish RSI divergence is emerging near support, but DOGE still trades below the 50-day EMA around $0.0871 and the 100-day EMA near $0.0859. Analysts are watching the $0.10 breakout level closely. Trader Tardigrade points to a potential inverse head-and-shoulders pattern on the monthly chart with a neckline near $0.10, similar to the setup before the 2021 rally. Crypto Patel sees $0.1186 as the next major resistance, with longer-term targets at $0.2818, $0.7559 and $2.
Macro pressure is also a factor. News reports highlight September U.S. CPI inflation at 3.7%, exceeding expectations and increasing caution ahead of the next Federal Reserve decision. Dogecoin-related investment products recorded outflows of $139,000 on Wednesday and $399,000 a day earlier, though cumulative inflows remain around $15 million. Futures open interest fell to 15.2 billion DOGE from 15.5 billion DOGE, below the October peak of 16.6 billion DOGE.
If DOGE loses the $0.078 level, liquidation heatmaps point to a downside liquidity pocket between $0.066 and $0.068. Conversely, a move above $0.084–$0.086 would be the first sign of shifting momentum, and a clear break above $0.10 could open a recovery toward $0.11985, then potentially $0.25 and $0.40 in a stronger Q4 scenario.
