Dogecoin price might be setting up for a move, and new on-chain data suggests there’s a clear path, at least up to $0.36.
Prominent analyst Ali Martinez pointed this out in a recent tweet, saying, “Dogecoin $DOGE has a lot of room to go up as the next major resistance barrier is $0.36!” .
A fresh chart from Glassnode backs that up, showing exactly where holders last bought DOGE and what price zones could act as support or resistance.
Most Dogecoin Was Bought Around $0.05–$0.06
According to the chart, a huge chunk of DOGE, around 30 billion tokens,was acquired between $0.05 and $0.06. That’s the biggest cluster by far, which makes this range a strong support zone.
If prices dip, this is where most holders are likely to defend their positions, making it harder for DOGE price to drop below.
This accumulation zone shows that many investors got in early and are probably still in profit, which reduces the pressure to sell at current prices.
$0.36 Could Be the Wall to Watch for DOGE
The next area with a big concentration of DOGE holders is at $0.36. More than 5.2 billion tokens were last moved around this level, roughly 3.5% of the total supply. That’s why it could act as a major resistance zone.
Source: X/AliMartinez
People who bought at $0.36 may be waiting to break even, which could lead to selling pressure if DOGE price climbs back to that point. Ali’s tweet aligns with this data, which points to $0.36 as the next big hurdle for DOGE.
Read Also: Dogecoin Price Prediction Following a 30% DOGE Rally
Above $0.40, It’s Mostly Clear Skies
Interestingly, the chart shows very little DOGE was last moved above $0.40. That means there’s not much resistance up there.
If DOGE price can break through $0.36 with strength, there’s a chance it could make a push toward the $0.70 range again. For now, all eyes are on whether the current momentum can carry DOGE through that $0.36 wall.
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The post Analyst says $0.36 Could Trigger Dogecoin(DOGE) Price Next Rally appeared first on CaptainAltcoin.
