Is Dogecoin on the Verge of Falling Below $0.10? A Look at Whale Movements

▲ Dogecoin (DOGE) / ChatGPT-generated image

Dogecoin has entered a large-scale accumulation phase aimed at preventing further declines, building a strong support base around the $0.10 level.

According to cryptocurrency media outlet NewsBTC on February 18 (local time), Dogecoin is eyeing a rebound opportunity while defending the psychologically and technically significant $0.10 support level despite recent price corrections. An hourly chart analysis on the Kraken exchange shows a solid ascending trendline forming near $0.10, with the current price trading above the 100-hour simple moving average (SMA), indicating strengthened downside resilience.

Technical indicators suggest that Dogecoin has completed a short-term correction and is preparing for a new upward wave. The token has successfully defended the $0.10 level against selling pressure that began at the $0.1175 high, consolidating its base. Experts predict that if the $0.10 level holds firm, Dogecoin could first test resistance at $0.1035 and then extend its recovery toward the primary resistance zone at $0.1065.

For a full-fledged bullish rally, a decisive breakout and consolidation above the $0.1085 resistance level are essential. Clearing this range could pave the way for a rise toward $0.1120 and eventually near the previous high of $0.1175. Some analysts describe the current area around $0.10 as similar to a “golden pocket,” a historical accumulation zone preceding major surges, suggesting active accumulation by long-term holders.

However, further downside cannot be ruled out if weakness persists in major assets such as Bitcoin (BTC). Should Dogecoin fail to defend the $0.10 support level, it could decline toward $0.0950 or even $0.0928, potentially worsening overall market sentiment. Recent signs of large inflows to exchanges and declining liquidity have also raised cautious opinions that a breakdown of support could trigger panic selling.

The Dogecoin market is currently navigating intense uncertainty as it seeks new direction. Whether it can defend the critical $0.10 stronghold, concentrate accumulation energy, and reclaim the $0.11 range is expected to become a decisive turning point for its future price trajectory. As the market enters a phase where meme-coin-style explosive volatility could reemerge, global investors are closely watching whether this key support level will hold.

*Disclaimer: This article is for investment reference only and the publisher is not responsible for any investment losses arising from its use. The content should be interpreted for informational purposes only.*