Dogecoin ‘Key Support’ At Level Where 28 Billion DOGE Changed Hands, Says Analyst: What It Means For The Popular Memecoin

by | Dec 18, 2025 | General

Dogecoin (CRYPTO: DOGE) extended its losses on Wednesday, mirroring a broader decline across the cryptocurrency market.

DOGE Sees Massive Liquidation Of Bullish Bets

The world’s largest memecoin by market capitalization fell over 4% in the last 24 hours, worse than Bitcoin (CRYPTO: BTC) and XRP (CRYPTO: XRP). Dogecoin’s trading volume surged 47% to $1.42 billion, suggesting high selling pressure.

Speculative activity on the coin weakened, with open interest in DOGE futures falling 4.34% in the last 24 hours, according to Coinglass. Over $5.60 million in DOGE’s long positions were wiped out in the same period.

DOGE’s Historical Support

Meanwhile, Ali Martinez, a popular cryptocurrency technical analyst and trader, highlighted some of DOGE’s key historical support levels, with the $0.074 level seeing the most action.

“$0.074 is the key support for Dogecoin. Over 28 billion tokens last changed hands there,” Martinez said.

Should DOGE revisit this level, it would represent a 41% drop from its current value. The memecoin last traded around this price in Feb. 2024.

See Also: Dogecoin (DOGE) Price Prediction 2025, 2026, 2030

Technical Indicators To Watch Out For

The Moving Average Convergence Divergence indicator, which compares two exponential moving averages of an asset, typically the 12-period and the 26-period, flashed a “Sell” signal for DOGE, according to TradingView. 

The Bull Bear Power indicator, which measures the strength of buyers and sellers, flashed a “Neutral” reading, while the Relative Strength Index hovered just above oversold territory.

Price Action: At the time of writing, DOGE was exchanging hands at $0.1261, down 4.35% in the last 24 hours, according to data from Benzinga Pro.

Photo Courtesy: Akif CUBUK on Shutterstock.com

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