Key Takeaways
- DOGE maintains position around $0.077, defending critical support at $0.075
- Trump declared “I’ve become a big crypto guy, I’m a fan,” sparking positive market reaction
- Large wallet holders increased positions to 73.85 billion DOGE, indicating strong accumulation
- Network activity surged to approximately 50,000 active addresses, signaling growing engagement
- Technical breakout could push DOGE toward $0.081, $0.090, $0.10, and $0.12 resistance levels
Dogecoin continues hovering around $0.077 following a week of stable price action. The popular meme cryptocurrency recorded weekly gains exceeding 5% and maintains its position above a crucial support threshold that market participants are monitoring intently.
The cryptocurrency market demonstrated overall strength as well. Total digital asset market capitalization expanded by 1.04% to reach $2.19 trillion within a 24-hour period, with leading cryptocurrencies including Bitcoin, Ethereum, XRP, and Solana recording modest upward movements.
Market analyst Ali Charts highlighted on July 5 that network activity for Dogecoin had surged to approximately 50,000 active addresses, stating “Something is brewing.” This level of active participation typically indicates heightened user involvement across the blockchain.
Large wallet holders controlling over 1 billion DOGE tokens expanded their combined holdings to 73.85 billion coins. While whale-sized transactions decreased to 12 on Sunday, the overall accumulation trend remains encouraging for market outlook.
Derivatives market information from Coinglass revealed DOGE trading activity surged 31% to reach $1.26 billion. Meanwhile, open interest declined modestly by 0.32% to $1.04 billion, suggesting minimal fresh leveraged positions entering the marketplace.
Technical indicators present a balanced picture, with the RSI positioned at 51.52, indicating neither overbought nor oversold conditions. The Chaikin Money Flow registers at a positive 0.08, demonstrating consistent but modest capital inflows into Dogecoin.
Critical Price Levels for DOGE Traders
Analyst Jesse Peralta’s technical chart illustrates DOGE trading within a long-established ascending channel pattern, with current pricing near the channel’s lower boundary. The $0.075 to $0.076 range represents the initial support zone requiring defense.
Should DOGE successfully maintain levels above $0.075, the immediate resistance target becomes $0.081. Beyond that threshold, market observers identify $0.090, $0.10, and $0.12 as potential upside objectives. A breakdown beneath $0.075 would expose the $0.070 to $0.068 support area.
Market analyst Celal Kucuker observed that DOGE has penetrated its long-duration descending trendline and is currently conducting a retest. Successful validation could transform previous resistance into fresh support, potentially clearing the pathway toward $0.12.
Presidential Endorsement Elevates Market Sentiment
During Monday’s press conference, President Donald Trump stated, “I’ve become a big crypto guy, I’m a fan.” He further characterized cryptocurrency as “very powerful” and described the sector as “huge.”
Cryptocurrency commentator That Martini Guy responded on X: “Bitcoin is now impossible for politicians to ignore. That’s a very different world to the one we were living in just a few years ago.” The commentary emphasized that Trump’s evolving stance mirrors a broader transformation in political engagement with digital currencies.
Bitcoin initially declined over 2% following Strategy’s regulatory filing indicating disposal of approximately 216 million BTC. However, Bitcoin subsequently rebounded, climbing 1.66% to $63,716 after Trump’s supportive comments.
The monthly timeframe chart from Ali Charts displays a TD Sequential buy indication on DOGE near the $0.077 zone, which technical traders often interpret as potential price exhaustion following extended downward pressure.
Dogecoin presently trades at $0.07648, with $0.075 representing the critical threshold bulls must preserve to maintain upward momentum.
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