Dogecoin (DOGE) prices hovered around $0.095 on Monday, with a cumulative pullback of over 7% in the past week. The price previously dipped to $0.080, slightly above the weekly support level of $0.078, followed by a technical rebound. Although there is short-term pressure, on-chain data reveals different signals — some whales are continuing to accumulate at low levels.
Data from Santiment’s supply distribution shows that addresses holding between 100,000 and 1 million DOGE are steadily increasing their holdings, and another group holding between 10 million and 100 million is also buying in sync. Since last Thursday, these two groups have collectively accumulated about 250 million DOGE. Meanwhile, addresses holding between 1 million and 10 million DOGE have reduced their holdings by approximately 110 million, indicating that larger funds are taking advantage of the pullback to position themselves.
CryptoQuant’s comprehensive data also shows significant large buy orders in both spot and futures markets, with buying pressure temporarily outweighing selling. The number of on-chain addresses holding coins has increased to about 8.2 million, with the proportion of long-term holders remaining stable, and the average holding period reaching 53 years, reflecting a relatively low circulation velocity.
On the technical side, the RSI has rebounded from oversold territory to 32, easing bearish momentum. However, a trend reversal confirmation still requires a break above 50. The MACD histogram continues to converge, with bearish momentum gradually weakening. The current price is testing the previously broken trendline resistance; if it can hold above, the upside target may be around $0.110.
The liquidation heatmap shows approximately $1.63 million in liquidity concentrated near $0.11, which often acts as a magnet for price movement. However, if the market weakens again, DOGE could retest $0.080, and a break below that may lead to $0.078. Overall, Dogecoin remains in a larger downward structure, with short-term rebounds mainly viewed as a correction. The subsequent trend will depend on whale activity and the key support levels.
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