Dogecoin, the lighthearted cryptocurrency with a loyal following, could soon hit a major milestone. The price of Dogecoin is approaching $0.1, a psychologically important level that it has not reached since 2018. Excitement is building among the Dogecoin community, as breaking through the 10-cent barrier could generate significant momentum.
However, the road to $0.1 will not be easy. According to analytics firm IntoTheBlock, there is major resistance around $0.09, where a large number of Dogecoin holders have an average purchase price. For Dogecoin to push past this blockade, substantial buying volume will need to materialize.
If Dogecoin can ultimately break out above 10 cents, it would be a symbolic victory for this unconventional cryptocurrency. The $0.1 mark is seen by many as an important step toward legitimizing Dogecoin and driving mainstream adoption. With the pieces aligning for a potential surge, the Dogecoin army will be closely watching to see if their beloved “DOGE” can conquer the remaining obstacles on the path to $0.1.
Dogecoin currently trades at levels backed by minimal volume – less than 10 billion DOGE according to IntoTheBlock data. For Dogecoin to surge past the psychologically important $0.1 mark, substantially more buying power is needed. The next big resistance level sits at $0.09, reinforced by a volume of 12.8 billion DOGE.
This presents a formidable barrier, but recent volatility spikes on networks like BASE hint at building momentum. With the crypto market on firmer footing lately, conditions could align for Dogecoin to take a shot at the $0.09 level. Piercing through the 200-day moving average is also a promising sign of strengthening bullish sentiment.
Make no mistake, challenges remain on Dogecoin’s road to $0.1. But if volatility accelerates and buyers pile in, Dogecoin may gain enough thrust to break the critical 12.8 billion DOGE resistance. Given the meme coin’s cult following and this year’s growth, a push past 10 cents can’t be ruled out. The $0.1 threshold is within sight – whether the DOGE army can mobilize enough firepower to conquer it remains to be seen.
