Dogecoin’s Fate Hinges on $0.18 Support Level, Analyst Warns
Market analyst Ali Martinez highlights a critical juncture for Dogecoin, centered around the $0.18 price level:
- Dogecoin is currently testing the lower boundary of an ascending channel.
- The key support level is at $0.18. If this level holds, DOGE may rebound towards $0.26 or even $0.33.
- If support fails, prices could drop significantly to around $0.07.
On-chain data confirms the significance of these levels:
- URPD (UTXO Realized Price Distribution) shows a dense Dogecoin cluster between $0.18–$0.21, indicating strong support.
- A failure below $0.18 exposes a large gap down to $0.07, where nearly 20% of the supply last traded.
The current trading price of DOGE is $0.173, making the $0.18 mark a pivotal point for future price action. Martinez emphasizes that market movements depend heavily on whether this support level can hold.
