Dogecoin (DOGE) traded at $0.09408, marking an 11.25% weekly decline, as it tests a key support level. Whale addresses accumulated approximately 250 million tokens during recent dips, indicating selective buying interest. Analysts note the meme cryptocurrency must hold the $0.094 support and see increased volume to challenge the $0.108 resistance, with technical indicators like the RSI at 31.69 reflecting weak current momentum.
Dogecoin traded at $0.09408 on Monday following an 11.25% weekly price decline, according to data from CoinMarketCap. The token is holding a major support level near $0.094 amid cautious overall market sentiment.
Supply distribution data shows whales holding between 100,000 and 100 million DOGE accumulated nearly 250 million tokens since Thursday. Meanwhile, wallets holding 1 million to 10 million coins reduced their holdings by approximately 110 million DOGE, indicating a rotation in whale activity.
Analyst BitGuru highlighted that Dogecoin has held support after a downtrend and liquidity sweep. “If the coin has held this level, it is more likely that it could attempt a short-term recovery,” the analysis noted, with targets mentioned in the $0.13 to $0.15 range.
Another analyst, Emilio Crypto Bojan, revealed the market awaits more volume to push DOGE above the $0.108 resistance. He stated that failure to sustain this level could see the price fall to $0.088.
Technical indicators show the Relative Strength Index (RSI) at 31.69, signaling limited buying pressure near oversold conditions. The Moving Average Convergence Divergence (MACD) remains in negative territory, reflecting ongoing downward pressure on the price.
