Dogecoin Slips Below $0.081 Support Despite Whale Inflows

Dogecoin ($DOGE) has declined roughly 7.6% on the weekly chart to trade around $0.0802, slipping below the $0.081 support level identified by crypto analyst Ali Martinez, according to CryptoNews. The drop occurred despite reported large-holder purchases totaling approximately 600 million tokens.

Technical Levels and Whale Activity

Martinez reported that large holders increased their balances from approximately 55.6 billion DOGE to 56.2 billion between Oct. 12 and Oct. 16. Using Glassnode data, the analyst noted that roughly 36 billion DOGE had previously changed hands around the $0.081 price point, establishing it as a significant cost-basis zone. On the daily chart, DOGE traded below its 20-day Bollinger Band midpoint of $0.08847, sitting closer to the lower boundary of $0.07736.

CoinGlass liquidation heatmaps highlighted prominent concentration bands near $0.0773 and $0.0844. Martinez outlined potential longer-range recovery scenarios contingent on defending the $0.081 level, pointing to historical cost-basis concentrations near $0.16 and $0.17 as possible profit-taking targets following any sustained rebound.

Key facts

• Dogecoin fell roughly 7.6% on the weekly chart to trade around $0.0802.
• Crypto analyst Ali Martinez reported whale purchases of approximately 600 million DOGE between Oct. 12 and Oct. 16.
• Approximately 36 billion DOGE previously traded around the $0.081 cost-basis zone.
• The daily chart placed DOGE below the 20-day Bollinger Band midpoint of $0.08847.