Foreign media report that Dogecoin has shown signs of stabilization after a series of declines. Simultaneous improvements in on-chain holding distribution, derivatives positioning, and short-term momentum indicators have reignited market focus on the key price range of $0.10.
A large position zone has formed near $0.081
The article cites Glassnode’s UTXO realized price distribution data, indicating that approximately 30 billion DOGE were last transacted near $0.081. This level corresponds to a significant on-chain concentration of holdings and represents the cost basis for many holders.
Historically, these cost-intensive areas often evolve into support levels. When the price retraces to the relevant range, some holders tend to hold their positions or even buy more. Based on this, the article suggests that around $0.081 remains a key level to watch for DOGE.
Open interest declined, funding rate turned positive.
Data in the derivatives market has also changed. DOGE’s open interest has declined from nearly $1.75 billion in early May to approximately $1 billion, a decrease of about 40% to 45%. Meanwhile, the funding rate, weighted by open interest, has rebounded from near -0.01% to approximately +0.008%.
- Open Interest: Decreased from approximately $1.75 billion to $1 billion
- Funding rate: Rises from negative to positive
- Support observation: $0.081 to $0.083 range
The article suggests that this typically means previously high-leverage positions have been liquidated, reducing the risk of forced liquidations in the market, while bullish sentiment has somewhat recovered compared to earlier levels.
$0.10 remains the short-term turning point.
The article suggests that DOGE is still in a recovery phase and has not fully reversed its previous correction trend; however, repeated support at the $0.081 to $0.083 range indicates that buying interest remains at lower levels.
On the momentum front, the RSI has rebounded to approximately 41, gradually exiting oversold territory; the MACD histogram is also beginning to contract, indicating weakening bearish momentum. If price breaks through key resistance levels at $0.090–$0.092 and then $0.096, the market will likely test the $0.10–$0.102 range next.
However, the article also notes that if the daily candlestick for DOGE clearly breaks below $0.081, the above recovery assessment will be weakened, and the market may once again face significant selling pressure.