Dogecoin Holds Near $0.085 as Whale Balances and Momentum Weaken

Dogecoin (DOGE) held near $0.085 on Oct. 9 as large-wallet balances fell and bearish technical signals kept the $0.084 support area in focus for the market.

DOGE’s daily close was $0.084788 on Oct. 9, compared with $0.083977 on Oct. 8 and $0.088994 on Oct. 7. The token remained near support associated with an ascending trendline that it previously broke.

Wallets holding between 1 million and 10 million DOGE and those holding between 10 million and 100 million DOGE reduced their combined balances by 100 million tokens since Tuesday. The lower balances show reduced holdings among the two large-wallet groups but do not establish that the tokens were sold on exchanges.

A daily close below $0.084 would place potential downside areas near $0.078 and $0.070 in focus. The $0.102 area remained a major resistance level, making the support zone important to the token’s near-term technical structure.

DOGE traded below several key moving averages, including the 100-day exponential moving average near $0.086, the 50-day EMA near $0.088 and the 200-day EMA near $0.093. Its Relative Strength Index was near 40, while the Moving Average Convergence Divergence line remained below zero and below its signal line.

Derivatives positioning provided mixed signals. The long-to-short ratio was 1.18, indicating more long positions than short positions, and the funding rate was 0.0010% after turning positive Sept. 9. At the same time, large DOGE futures orders showed sell-side dominance, while spot and futures conditions appeared overheated.

The move follows an earlier report on DOGE’s break below technical support.