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DOGE DOGE Price Analysis: Key resistance level of US$0.098 tests bullish confidence
CoinCodex data showed that DOGE hit a recent high of approximately US$0.0976 on October 2, and then closed around US$0.093. On October 4, its price remained volatile near this level, with the price range of approximately US$0.0926 to US$0.0935 in the latest trading session.
This correction does not completely negate the recent rebound trend, but bulls still face the same problem: DOGE must regain the key area of US$0.098 to US$0.10 before launching a larger rally.
US$0.098 remains the key resistance level for DOGE.
The latest rejection of the upward trend further confirms US$0.098 as the immediate technical ceiling. Previously, about 28 billion DOGE units changed hands around this level, creating a large concentration of positions, which may increase selling pressure when prices return to this level. Despite resistance above, large wallet addresses added approximately 1.14 billion DOGE units during this period, valued at approximately US$112 million at the time.
Coinpaper's previous Dogecoin price outlook also pointed out a test for the US$0.10 breakthrough point, while more recent DOGE analysis pointed out that if the bulls can finally clear this obstacle, the next upside target area will be between US$0.11 and US$0.12.
Whale buying has not yet triggered a breakthrough
Demand from large households is still a relatively positive aspect of the current market structure. As prices approached resistance, Whale Address increased its holdings of more than 1.14 billion DOGE units in four days. At the same time, Dogecoin investment products in the United States recorded a weekly net inflow of approximately $2.9 million, the strongest weekly total reported in recent markets.
However, these purchases were not enough to force a clean price breakthrough. DOGE has now fallen back into the support area of $0.092 to $0.093, which means the next step may depend on whether buyers can hold this position. If it falls below US$0.09, the structure will weaken and DOGE may face deeper risk of correction.
