TLDR
- Dogecoin is forming a falling wedge pattern on the 1-hour chart, with key resistance at $0.110–$0.120
- Open interest rose 1.92% to $1.27 billion despite a 3.10% drop in 24-hour trading volume
- A breakout above the wedge could target $0.150, while a drop below $0.080 risks more downside
- DOGE hit its lowest level since 2023 last month, trading around $0.068
- Dogecoin’s circulating supply stands at 155.9 billion coins, with 5 billion more added each year
Dogecoin (DOGE) is sitting at a key technical level as traders watch for a potential breakout from a falling wedge pattern. The coin is currently trading around $0.0835, down from a mid-August high near $0.10.
Crypto analyst Crypto With Gopal identified the falling wedge on the 1-hour chart. He flagged $0.100 as a key level and the $0.110–$0.120 range as the main resistance zone bulls need to clear.
Analyst Trader Tardigrade drew attention to a longer-term pattern on the monthly chart. He noted that DOGE is printing a rounded bottom and descending trendline structure that mirrors the setups seen before its two previous parabolic cycles, pointing to what he calls a potential “cycle ignition” if the trendline breaks.
$DOGE/monthly — Fractal Repeat 🐕❇️#Dogecoin is printing the exact same pattern that triggered the two previous parabolic cycles.
📊 Rounded bottom forming
🔴 Descending trendline resistance
🟢 Breakout above trendline = cycle ignition✍️ The structure is identical. Both… pic.twitter.com/zbFEVoHWKH
— Trader Tardigrade 🧬 (@TATrader_Alan) September 13, 2026
A confirmed breakout above the wedge could push DOGE toward $0.150, according to Crypto With Gopal’s projection. That would be a recovery from current levels, though the analyst was clear this is a technical target, not a guarantee.
Momentum Weakening
DOGE dropped below its 20-day Simple Moving Average at $0.08589. The MACD line has crossed below its signal line, and negative histogram bars have appeared, showing sellers currently have the upper hand.
The lower Bollinger Band sits near $0.08003. A break below $0.080 support could invalidate the bullish setup and open the door to more losses.
Derivatives Market Stays Active
Coinglass data shows 24-hour trading volume fell 3.10% to $710.71 million, while open interest climbed 1.92% to around $1.27 billion. According to data shared by Dogegod, open interest sits at roughly 16.38 billion DOGE, valued at approximately $1.5 billion.
High open interest with lower volume suggests traders are holding leveraged positions and waiting for a decisive move. That positioning could amplify any breakout or breakdown.
DOGE hit its lowest price since 2023 in August at $0.068. The coin is up from that level but still well below its 2021 peak of $0.73.
Dogecoin’s circulating supply is 155.9 billion coins. With 5 billion new coins added annually, supply dilution remains an ongoing pressure on the price. There is no cap on total supply.
Only 2,328 businesses worldwide accept DOGE as payment, according to crypto directory Cryptwerk.
