Dogecoin (DOGE) is currently trading near $0.236 and consolidating within a critical price range that may shape its next major breakout or breakdown. According to on-chain analyst Ali Martinez, the meme coin is trapped between a strong support zone at $0.21 and a significant resistance level at $0.36. These two zones are supported by substantial on-chain activity, indicating that any move beyond them could be pivotal.
The $0.36 resistance is a major supply wall, where nearly 5.7 billion DOGE last changed hands. This price point marks a potential profit-taking level for many holders, creating strong selling pressure if revisited. In contrast, the $0.21 range represents a solid demand zone, with over 11.1 billion DOGE—or approximately 7.5% of the circulating supply—acquired at this level. This area serves as a strong foundation for the current price and is the first line of support if DOGE pulls back.
Dogecoin’s recent rally from under $0.18 to over $0.23 happened swiftly, placing it within a high-volume node on the URPD (UTXO Realized Price Distribution) chart. This signals the current price is within a congestion zone where many tokens last moved, adding to the importance of this consolidation phase.
Traders are watching closely: a breakout above $0.36 could indicate bullish continuation and trigger the next leg up, while a drop below $0.21 might result in further downside. As DOGE consolidates, this $0.21–$0.36 range becomes a decisive battleground for short-term momentum, and how price reacts here could set the tone for the coming weeks.
Comment 0