Dogecoin’s $0.36 Resistance: What’s Waiting At The Top? You Won’t Believe Who’s Selling

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On-chain data says Dogecoin investors are about to hit a resistance wall so impenetrable even your ex would be impressed. And it’s all thanks to—wait for it—the thrilling world of “cost basis distribution.” Try to contain your excitement. 🥲

$0.36: Where Dreams (And DOGE Bags) Go To Die

Ali Martinez (who I’m now convinced has a more intimate relationship with on-chain indicators than with actual people) is out here waving charts on X, declaring certain price levels a big deal for Dogecoin, based on something called “UTXO Realized Price Distribution.” Don’t worry if you zoned out reading that. I did. The TL;DR: It’s about where people last bought their Dogecoin, which, in the case of $0.36, is apparently where roughly 3.8% of all DOGE decided, “Yep, this is it – I’m booking my ticket to the moon.” Spoiler: that flight’s been delayed since 2021.

The chart basically says—if you squint and have a doctorate in Dogecoin, maybe—you’ll see that, right now, the closest big chunk of DOGE supply clings to $0.21. That’s 7.5% of the supply who heard “buy the dip” and took it literally. For resistance, though, it’s crickets until $0.36, where some brave souls (or meme enthusiasts with too much money) last bought in.

Why does this matter? (Honestly, do any of us know why Dogecoin does anything? But let’s play along.) The psychology is classic: if you bought at $0.36 and the DOGE price claws its way back up there, you might rush to get out, recover your dignity, and swear you’ll never listen to a talking dog avatar again. Mass selling ensues. Voilà, resistance! Magic! 🚧🤦‍♀️

Of course, if the price drops to $0.21, those bagholders will cling on for dear life, convinced Elon will tweet their fortunes into the stratosphere. This is known, in technical terms, as “support,” otherwise known as “the collective denial of people who don’t want to take a loss.”

Right now, with DOGE sitting at $0.237 (which is, let’s face it, the sort of number you tell your friends in a whisper), there’s a 37% surge to brag about. So if you’re feeling bullish, just keep $0.36 in mind. That’s where all the ghost-of-bull-markets-past are hiding, ready to dump their bags and ruin your day. 🚀😬

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2025-05-15 03:41