Dogecoin Holds $0.09 Support as Relief Bounce Scenario Emerges

2026-02-12 12:30:24

⬤ Dogecoin is stabilizing after a long downtrend and is now trading around a key historical support zone near $0.09. The asset reacted from a strong demand area following a liquidity sweep, shifting from aggressive selling into consolidation behavior rather than continuation lower.

⬤ The chart shows DOGE completing a multi-month sequence of lower highs before buyers stepped in near support. Price is compressing sideways after the sell-off, indicating weakening downside momentum and possible accumulation.

⬤ The shift from trend continuation to base formation suggests supply absorption may be underway. If the $0.09 level holds, the next logical move is a relief bounce toward the prior supply zone around $0.14–$0.15, which previously acted as resistance before the breakdown.

⬤ Similar downside continuation pressure was recently described in Dogecoin plunges after bearish Ichimoku signal, where technical indicators pointed to extended weakness. However, the current price action suggests that momentum may be exhausting.

⬤ Comparable recovery setups were outlined in DOGE bull flag pattern with $0.12 target, where consolidation near support preceded upside attempts. The current structure mirrors that behavior, with sideways movement replacing heavy selling.

⬤ The importance of the current DOGE setup lies in whether support can be maintained. Holding above $0.09 would suggest supply absorption and short-term recovery potential, while failure to maintain the level would invalidate the stabilization and reopen downside pressure toward lower demand zones.

DOGE6,6%

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.