Dogecoin (DOGE) Finds Strong Support at $0.08 as On-Chain Data Highlights Major Holder Cluster

• $0.080 acts as Dogecoin’s (DOGE) strongest support, backed by heavy holder concentration.
• $0.20 remains the major resistance that DOGE must flip to reignite a bullish trend.
• On-chain data suggests accumulation, as investors continue defending the $0.08 level.

Dogecoin (DOGE) is displaying a strong defensive structure around the $0.080 level, as per the new on-chain insights from market analyst Ali (@ali_charts). Referring to Glassnode’s UTXO Realized Price Distribution, Ali notes that $0.08 represents DOGE’s largest concentration of holder cost basis and, thus, the most important support zone in the current market structure.

At the same time, the analysis notes that $0.20 remains the primary resistance, where another sizeable cluster of holders may look to take profits if the price trends upward.

On-Chain Data Shows Heavy Positioning at $0.08

The URPD chart above shows an area of dense accumulation at $0.08, which implies that a meaningful volume of long-term and short-term addresses hold positions near that level. Historically, such dense clusters act as price cushions since buyers usually tend to protect their cost basis in a volatile market.

Traders in the replies echoed that DOGE is showing stability around this key level despite broader market noise, which could indicate that an accumulation phase might be underway.

Also Read: Dogecoin ETF Boost: DOGE Price Targets $0.230 in Upcoming Breakout

Resistance at $0.20 Still a Major Barrier

Although the support structure remains strong, the chart also reveals a large holder base at around $0.20. The level is DOGE’s next higher major breakout point, and analysts say it may take fresh market momentum or a broader crypto recovery for bulls to try pushing past that zone.

Current Trend and Key Technical Levels for Dogecoin (DOGE)

Dogecoin (DOGE) currently has a market capitalization of approximately $23.23 billion, with a trading volume of about $1.16 billion in the last 24 hours. At press time, the altcoin is trading at $0.152, having increased by 1.09% over the past 24 hours.

The price is moving in a bullish trend and is currently testing a resistance level near $0.1542. If it breaks above this, the next target could be $0.1800. On the downside, the support level is around $0.1409. If the altcoin falls below this level, we might see a drop towards $0.1200.

The blue line indicates the resistance level at $0.1542, while the yellow line represents the support level at $0.1409.

On-chain data for Dogecoin (DOGE) shows the memecoin is structurally strong at the $0.08 level, with accumulating holders helping to stabilize price action. Looking ahead, the $0.20 level serves as the next major resistance, though analysts indicate that the ability of DOGE to hold support through market turbulence may set up the asset for a more pronounced recovery, should sentiment improve.

Also Read: Bitwise Launches Dogecoin ETF BWOW on NYSE Arca After SEC Review