Dogecoin is testing the $0.09 support zone after a sharp daily decline. At the same time, a long-term chart keeps the $10 target alive if DOGE holds its multi-year trend.
Dogecoin Price Tests Key $0.09 Support as Selling Pressure Intensifies
Dogecoin fell more than 7% on the daily chart and closed near $0.0938, putting the meme coin directly above the $0.09 support zone highlighted by analyst KrissPax.
Dogecoin 9 Cent Support. Source: TradingView / KrissPax on X
The chart shows DOGE breaking below a short-term consolidation range around $0.10-$0.102. A large bearish candle accompanied the decline, suggesting sellers remain in control. Volume also increased during the move, indicating stronger participation in the sell-off.
The $0.09 level stands out as the next major support. DOGE traded around that area in early April before starting a rally that later pushed the token above $0.11. As a result, traders may view this zone as an important test of market demand.
On the upside, DOGE would need to reclaim $0.10 and then $0.102-$0.105 to reduce immediate downside pressure. However, the current chart structure shows lower highs and lower lows, which remains consistent with a short-term downtrend.
If the $0.09 support fails to hold, the next downside area appears near $0.087-$0.088, based on previous swing lows visible on the chart. Conversely, a successful defense of $0.09 could trigger a relief bounce as buyers attempt to regain control.
Dogecoin $10 Prediction Relies on Long-Term Channel Support
A chart shared by Vuori Trading suggests Dogecoin remains inside a multi-year ascending channel that has guided price action since 2014. The analyst argues that DOGE continues to follow a recurring pattern of accumulation, breakout, pullback, and expansion phases.
Dogecoin Weekly Ascending Channel Analysis. Source: Vuori Trading on X / TradingView
The chart marks five major cycle waves, labeled I through V. Previous bull runs began after DOGE retested the lower boundary of the channel, highlighted by blue circles. Each retest was followed by a sharp upward move toward the middle or upper portion of the trend channel.
According to the analysis, DOGE is currently revisiting channel support near the lower trendline. The setup resembles previous cycle lows seen before the 2017 and 2021 rallies. The chart also highlights a Relative Strength Index (RSI) reading near the historical buy zone, where earlier market bottoms formed.
Vuori Trading projects that a successful defense of current support could start the next major advance, labeled Wave V. The analyst's upper-channel target points to a potential move above $10, although that scenario depends on DOGE maintaining its long-term trend structure and repeating previous market cycles.
