Dogecoin is grinding through a technical fault line around the low $0.10s, traders flagging a strong support band that could define DOGE stabilizing or entering structurally weak territory.
The quick set-up was framed as a “line in the sand” of high credence by accounts focused on the chart, as the whale’s career in the series seemed to end quickly. Ali Charts said transactions greater than $1 million on the Dogecoin network “dropped by 94.6%, from 109 to just 6, in the last four weeks,” pointing to a sharp return to big-ticket activity at the same time DOGE has been testing support.
This Needs To Be Dogecoin Bottom
Kevin (@Kev_Capital_TA) argued that DOGE is now sitting on long-term trend support that often attracts systematic attention. “Want to see the most important chart? Dogecoin is currently sitting at the top of the 2W 200 ema / sma and a large support zone has formed. The .12-.10 area is everything,” he wrote.
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“If there’s ever been a place where you want to see the floor go into that place otherwise things get very dangerous structurally. The performance will depend entirely on BTC as always.”
That framework is important because it binds the trade to two different scenarios: DOGE holding a defined price shelf, and Bitcoin avoiding a broad hedging movement that would force the exchange to open up. In other words, even a “pure” DOGE level may not stand alone if BTC pulls back.
Short-term charts shared by Cantonese Cat (@cantonmeow) are based on the same battleground. Posting a 4-hour Bollinger Band view, the account highlighted the move to local levels in what it described as a buying position: “Pulling in a buy order below with low volume,” Cantonese Cat wrote today, adding, “Think I’ll buy DOGE tonight.”
The chart shows the DOGE falling below the 4-hour Bollinger Band average line. Therefore, the price could retreat back to the lower band near $0.12, an area that crosses the support area flagged by Kevin. A clean break below that range would move the setup from “protective support” to “risk on downside,” putting a deep downside on the table.
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Cantonese Cat also posted a DOGE-versus-DXY macro comparison on Jan. 28, which suggests that a wide back can still support reflexive movement upwards if the conditions are right. “Macroenvironment wants DOGE to work,” the account wrote. “Therefore, DOGE will not work again because it does not have the resources, or history will repeat itself.”
A strong binary, but it captures the tension that DOGE traders navigate: meme coins can trade as pure liquidity beta when macro conditions loosen, yet the market can also punish assets that struggle to support new demand when speculative momentum ends.
The next move will likely be determined by whether DOGE can defend the $0.10–$0.12 band while participation returns, either through renewed capital flows or broader risk appetite led by BTC. If that floor holds, traders put in a bearish process and move back to a higher supply.
At press time, DOGE traded at $0.121.
The featured image was created with DALL.E, a chart from TradingView.com
