Dogecoin (DOGE) has recently climbed above the $0.111 resistance level. Reflecting a 4.78% growth in the last 24 hours and a 9.03% increase over the past week, its price was $0.115 at the time of writing. This movement points to a possible breakthrough. Experts emphasize that maintaining this level is essential for further advancement.
Dogecoin Holder Distribution
Recent statistics shared by Ali Martinez show the range of DOGE holders at different price points. Notably, 62,270 addresses hold over 36 billion DOGE within the price range of $0.108090 to $0.111445. The average acquisition price for this group is $0.109221. It places these holders in a marginally profitable position.
#Dogecoin has surged past the $0.111 resistance, where 62,270 addresses hold over 36 billion $DOGE. If #DOGE holds this level, it could confirm a bullish breakout. With no major supply walls in sight, the path to $0.150 looks clear! pic.twitter.com/4L0zI4s72z
— Ali (@ali_charts) September 26, 2024
About 84.70% of DOGE holders are ‘ in the money.’ They hold about 55.64 billion DOGE, valued at $6.21 billion, purchased between $0.094671 and $0.109221. This indicates a large portion of the market bought below the current price. In contrast, 15.04% of holders, owning 9.88 billion DOGE worth $1.1 billion, are ‘out of the money,’ having purchased at higher levels.
Potential Upside?
The data shows minimal resistance above current levels. For context, a few holders bought DOGE at a price higher than the market price during this writing. The absence of major supply barriers would suggest a clear path for DOGE to continue rising if the current momentum holds. The $0.115 level is a key point for confirming a sustained bullish trend. If DOGE remains above this mark, the path toward $0.150 is attainable.
Dogecoin Nears Breakout as Descending Wedge Pattern TightThe chart also focuses on a small section of holders, classed as ‘ at the money.’ This 0.26% group is at break even. With 167.88 million DOGE valued at $18.75 million, this cluster shows strong confidence in maintaining its key support levels. As a result, sales pressure lowers, and opportunities for price hikes are more likely.
Focus on Key Support Levels
The market is intensely observing DOGE’s capacity to rise beyond the $0.111 level. This kind of support depends on confirming a continuous bullish attitude. Should purchasing activity stay strong, the price might migrate toward $0.150 with no appreciable barrier above.
