Dogecoin price fell toward key support as long liquidations built near the $0.105 to $0.106 zone. However, the weekly DOGE chart still shows a rounded base near $0.10, keeping the broader breakout setup alive.

DOGE Long Liquidations Rise as Price Slides Toward Key Support

Dogecoin faced fresh pressure as high leverage long positions were liquidated, according to a liquidation heatmap shared by CW on X.

The CoinAnk chart showed DOGE falling from the $0.116 to $0.117 area on May 6 to near $0.105 by May 8. The move erased most of the earlier rally and pushed price into a dense liquidation zone.

DOGE Liquidation Heatmap. Source: CoinAnk,CW on X

The strongest liquidity cluster appeared near the $0.105 to $0.106 range. That area shows where many leveraged long positions likely sat before the drop. As DOGE moved lower, those positions faced forced liquidation, adding more sell pressure to the market.

The chart also showed smaller liquidity zones above the current price, especially around $0.111, $0.114, and $0.117. These levels may act as resistance if DOGE rebounds, because traders who were trapped during the decline may exit near those zones.

DOGE had previously moved sideways between May 1 and May 4 before a sharp rally lifted price above $0.113. However, the move failed to hold. Sellers took control after May 6, and the decline accelerated once price broke below the $0.111 area.

The latest structure shows DOGE trading near the lower end of the chart range. A recovery above $0.108 could reduce immediate downside pressure. However, failure to hold the $0.105 area may expose DOGE to another liquidation-driven move lower.

Dogecoin Weekly Chart Shows Another Rounded Base Near $0.10

Dogecoin traded near $0.107 on the weekly chart, while a DOGE setup shared by Moe on X showed price forming another rounded base near the $0.09 to $0.11 area.

The chart compares DOGE’s current structure with several earlier weekly setups. Each marked setup shows a rounded bottom followed by a break above a descending trendline. Those earlier moves led to strong upside continuation after buyers regained control.

DOGE Weekly Rounded Bottom Setup. Source: TradingView,Moe on X

The latest pattern shows DOGE moving under a falling resistance line after its decline from the 2025 highs. Price then based near the $0.09 area before starting to push back above the trendline. That makes the current zone important because DOGE is trying to confirm whether the rounded bottom is complete.

Moe’s chart marks a large upside path toward the $0.90 area. However, that target depends on DOGE holding the base and clearing nearby resistance levels first. The chart shows price still far below that projected zone, so the move has not confirmed yet.

The first key area sits around $0.125. DOGE needs to reclaim that level to show stronger weekly momentum. After that, the chart points to possible resistance around $0.17, $0.24, and $0.33, based on previous price reaction zones.

If DOGE fails to hold the $0.09 to $0.10 support area, the rounded base setup weakens. A breakdown below that zone would put sellers back in control and delay the bullish structure shown on the weekly chart.

Source: https://coinpaper.com/16911/dogecoin-price-prediction-doge-holds-bigger-breakout-setup

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