Can Dogecoin Hold Key Support? If Yes, Traders See a Clear Path to $0.10

Dogecoin(CRYPTO: DOGE) is defending a critical on-chain support level as traders point to a potential move higher.

Will DOGE Hold Support Levels?

Crypto chart analyst Ali Martinez highlighted $0.081 as one of Dogecoin’s most significant support levels, with roughly 30 billion DOGE previously traded at that price.

If DOGE holds the level, Martinez sees relatively little on-chain resistance standing between the meme coin and $0.177, representing more than 100% potential upside from the support level.

Trader Osemka pointed out Dogecoin’s move above the important $0.0873 level from 2021, calling the latest weekly close a major technical win.

The trader views DOGE as having completed Waves 1 and 2, with a larger Wave 3 now underway.

However, based on Dogecoin’s behavior during previous cycles, Osemka expects continued choppy upside before a potentially larger expansion.

David Gokhshtein said Dogecoin and Shiba Inu(CRYPTO: SHIB) remain the meme coin sector’s “kings,” arguing that newer tokens must surpass their previous all-time highs to dethrone them. DOGE and SHIB also still represent roughly half of the sector’s total market cap.

CleanCore Moves Away From Dogecoin

The bullish technical outlook comes as CleanCore Solutions(NASDAQ:ZONE) shifts away from its Dogecoin treasury strategy toward AI infrastructure.

The company sold substantially all 463 million DOGE on July 20 for about $33.4 million and used the proceeds for its AI infrastructure segment. It does not quantify any remaining DOGE or say the tokens were pledged.

The move creates a potential DOGE supply overhang.

Meanwhile, CleanCore closed a $100 million public stock offering on Aug. 12, increasing its common shares outstanding.

The company plans to use stock offering proceeds as part of its pivot from cleaning products and Dogecoin treasury assets toward AI infrastructure in Minnesota.

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