Dogecoin (DOGE) Price: Why This Trendline Retest Has Traders Watching Closely

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TLDR

  • DOGE is trading near $0.0871 on the Oct. 12 Binance daily chart, up about 1%.
  • Key support sits at $0.0792, with resistance at $0.09 and $0.1174.
  • Daily RSI is 44.56 and MACD is bearish, so momentum remains weak.
  • U.S. Dogecoin ETFs saw no net flows for seven sessions, and Bitwise is closing its BWOW fund on Oct. 14.
  • Analyst Trader Tardigrade says DOGE is retesting a long-term trendline it recently broke.

Dogecoin is trading around $0.0871 on the Oct. 12 Binance daily chart. The price opened near $0.0862 and reached a high of $0.0883 before climbing about 1%.

Dogecoin (DOGE) Price
Dogecoin (DOGE) Price

The move follows a short selloff that pushed DOGE back toward its rising support structure. Price is still well above the August lows near $0.07, but momentum has faded since the late-September push toward $0.10.

Analyst Trader Tardigrade, posting as @TATrader_Alan, shared a 3-day chart on $DOGE. He says Dogecoin is retesting a mid- to long-term trendline formed earlier this year. The line acted as descending resistance, and after several attempts, price broke through it. He describes the current move as the first retest of that level.

DOGE chart analysis

The chart shows a major horizontal support level at $0.0792, close to the base of the recent breakout. DOGE is also sitting near a rising trendline that held price through September. It briefly dipped below that line during the latest correction before recovering.

Source: TradingView

Immediate resistance is at $0.09, followed by the $0.095 to $0.10 area. A move through $0.10 would improve the short-term picture and open the way toward $0.1174, a level that has acted as a barrier several times this year.

Momentum indicators lean cautious. The daily RSI is 44.56, below the neutral 50 mark. MACD is bearish, with the line below its signal line and a negative histogram.


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Traders will watch whether DOGE can reclaim $0.09. A daily close below $0.0792 would break the recent higher-low structure and bring the August lows back into view.

ETF demand goes quiet

U.S. Dogecoin ETFs recorded no net inflows or outflows for seven straight sessions between Oct. 1 and Oct. 9. Combined assets stayed near $14.9 million.

That follows a stronger stretch in late September, when the funds drew a record $2.89 million in weekly net inflows. Grayscale’s GDOG accounted for nearly all of it.

Bitwise is reportedly winding down its BWOW Dogecoin ETF. Trading is scheduled to end on Oct. 14, with cash distributions expected later in the month.

On the ecosystem side, DogeOS recently launched a public testnet. It aims to bring decentralized trading, lending and stablecoins to Dogecoin. Its application layer relies on selected operators rather than Dogecoin miners.

On-chain activity remains steady. Dogechain recorded about 143,000 payments during the week of Sept. 25, and roughly 1.3% were transfers of at least one million DOGE. Hashrate was around 2.64 PH/s.

About $57.2 million worth of DOGE also left exchanges over the past week, even as the price declined. Outflows can point to coins moving into private wallets.

DOGE is now attempting to stabilize after its October pullback, with price still above $0.0792 and bulls needing a move back above $0.09.





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