Dogecoin News Today: Dogecoin's $0.08 Level—The Critical Point That Determines Its Future

Dogecoin (DOGE) has seen its most significant support level become a central topic among traders and market observers, as blockchain data points to a substantial cluster of holdings at the $0.08 mark. This area, highlighted by analyst Ali Martinez

, contains 27.4 billion DOGE—almost 50% of the total circulating supply—making it a crucial buffer against further price drops. Recent trading patterns indicate the is at a decisive crossroads, with its ability to maintain this support likely shaping its short-term direction.

After a sharp pullback that touched $0.1551, DOGE has been moving sideways within a range of $0.1638 to $0.1643

. The bounce from this level established a "higher-lows" formation, which is typically seen as a bullish indicator, yet overall market softness and macroeconomic challenges persist. Large investors have shown renewed activity, with trading volume jumping to 613 million during the support retest—an increase of 186% over the 214 million average . This uptick, along with a steady move above $0.1620, adds weight to the argument for a continued upward move.

Meanwhile, the $0.08 support has become increasingly important due to its role in cost basis distribution (CBD) analysis

. Created by analytics provider Glassnode, CBD tracks where supply is concentrated at previous price levels. Martinez's findings indicate that 12.1 billion were acquired near $0.20, a price now acting as resistance after recent declines pushed DOGE below it . The next significant area below, at $0.08, holds more than twice as much supply, making it a key psychological and technical threshold. Many holders at this price—who bought during the retail surge of 2021—are currently at a loss, which could spark renewed buying if DOGE revisits this zone.

Technical signals further highlight the significance of this support. Should DOGE fall below $0.1620, it could be vulnerable to a drop toward the $0.1600–$0.1580 range, while maintaining a close above $0.1650 would confirm the upward trendline and potentially lead to $0.1680

. Short-term investors are paying close attention to the $0.1638–$0.1640 zone, where trading activity indicates ongoing interest . The Relative Strength Index (RSI) currently sits around 39.35, pointing to mild oversold conditions, though not low enough to indicate an immediate reversal .

Broader market factors are also being considered by investors. Large holder activity and discussions around ETFs have added complexity to DOGE’s price movements

. While there is clear evidence of institutional buying, retail sentiment remains cautious, with (SHIB) serving as a reminder of how different trends can develop even among memecoins . For DOGE, the next few weeks will be a test of its ability to withstand broader economic pressures, with the $0.08 level serving as a crucial line of defense if bearish trends continue.